Security Bank Capital Investment Corp and its parent Security Bank Corp. have closed a P2.015-billion project financing facility for a 65-megawatt peak solar power plant in Isabela, the companies said Thursday.
The ground-mounted project, operated by Solar Valley Energy Solutions Inc, is located in San Pablo and represents the first project financing for Alba Renewables since its acquisition by global investment firm Brookfield Asset Management.
Security Bank Capital served as the mandated lead arranger and bookrunner, while Security Bank acted as the sole lender for the senior term loan facility.
The financing supports the construction and development of a facility that will supply renewable energy to the Luzon grid. The project operates under a fixed 20-year tariff awarded through the government’s Green Energy Auction Program, which ensures long-term revenue stability and cash flow visibility.
Security Bank Capital president and chief executive Virgilio Chua said the transaction reflects a commitment to financing high-quality renewable energy projects that deliver long-term value.
He said that by supporting the Solar Valley project, the bank is helping accelerate the country’s clean energy transition and contributing to energy security.
The Solar Valley project is a joint venture between Alba Renewables Philippines and Soleos Energy Partners Pte. Ltd. Construction is underway, leveraging the development expertise of Alba Renewables and the global operating reach of Brookfield.
Security Bank corporate banking group head Yvonne Marcelo said renewable energy plays a critical role in supporting inclusive and sustainable economic growth.
She said financing such projects strengthens the country’s energy mix while providing reliable power for communities.
Alba Renewables, which focuses on utility-scale solar, wind and battery storage across Southeast Asia, plans to use the backing of Brookfield’s capital to scale high-impact investments in the region.
Once operational, the Isabela site is expected to significantly reduce carbon emissions and help the Philippines meet its renewable energy targets.
