Aboitiz Secures PHP 7.4B for Central Luzon Solar Project

• Aboitiz Power secures PHP 7.4B for a cutting-edge solar park, boosting renewable energy and job creation in Central Luzon.

Aboitiz Power has secured PHP 7.4 billion (USD 129.5 million) in non-recourse debt to fund the construction of a 221-MWp solar park in Central Luzon, Philippines. This financing supports one of the country's significant utility-scale photovoltaic projects, highlighting lender confidence in contracted projects as the market aims to reduce diesel reliance. The project will feature advanced technology, including bifacial modules on single-axis trackers and DC-coupled architecture, to optimize efficiency and grid compatibility.

The project aligns with Aboitiz's strategy to expand renewables while maintaining financial discipline. With funding in place, the focus shifts to substation works, environmental compliance, and community programs, which are crucial for job creation and sustaining social license. The initiative also considers co-located batteries to manage energy output and provide fast-response services, enhancing the renewable energy share in the region.

How will Aboitiz Power's solar park impact Central Luzon's energy landscape and local communities?

• Increased Renewable Energy Capacity: The solar park will significantly boost Central Luzon's renewable energy capacity, reducing reliance on fossil fuels and contributing to the region's energy security.
• Job Creation: The construction and operation of the solar park will create numerous jobs, benefiting local communities economically and providing new skill development opportunities.
• Environmental Benefits: By reducing carbon emissions and promoting cleaner energy, the project will contribute to improved air quality and environmental sustainability in Central Luzon.
• Energy Cost Reduction: The addition of solar energy to the grid can help stabilize and potentially reduce energy costs for consumers in the region.
• Grid Stability and Efficiency: The use of advanced technology, such as bifacial modules and single-axis trackers, will enhance the efficiency and reliability of the energy supply.
• Community Development Programs: Aboitiz Power's focus on community programs will support local development initiatives, improving infrastructure and services in the surrounding areas.
• Educational Opportunities: The project may offer educational programs and partnerships with local institutions to promote awareness and understanding of renewable energy technologies.
  
• Energy Independence: By increasing the share of locally produced renewable energy, the region can reduce its dependence on imported fuels, enhancing energy independence.
• Resilience to Energy Demand Fluctuations: The potential integration of co-located batteries will help manage energy output and provide fast-response services, ensuring a stable energy supply even during peak demand periods.