What Happened

Rizal Commercial Banking Corp. (RCBC) provided a P4.5-billion ($80M) financing facility for a 99-MWp solar-plus-storage project in Iloilo, Philippines. The project, developed by ib vogt APAC, combines solar photovoltaic technology with a battery energy storage system (BESS).

Who Is Affected

The project involves RCBC as the sole lender and RCBC Capital Corp. as the lead arranger. Ib vogt APAC is the developer, and the project will benefit over 85,000 households in the Visayas region.

Market Impact

• Validates viability of hybrid renewable energy projects under the Green Energy Auction framework.
• Sets a model for future solar-plus-storage developments in the Philippines.
• Enhances grid stability and power dispatch in the Visayas region.

What to Watch

Monitor the project's progress toward its commercial operations target in Q2 2027. Also, watch for similar hybrid renewable energy projects in the Philippines, driven by RCBC's financing model.