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Manila Bulletin devider Business devider The Stock Market devider RCBC lends ₱826 million to Yuchengco-led RE firm for Pangasinan solar project

RCBC lends ₱826 million to Yuchengco-led RE firm for Pangasinan solar project

Published Nov 3, 2025 10:32 am
Yuchengco-led Bugallon Green Energy Corp. (BGEC) has secured an ₱826-million loan facility from also Yuchengco-led Rizal Commercial Banking Corp. (RCBC) to finance the development of its 25.01-megawatt direct current (MWdc)/18.56-megawatt alternating current (MWac) Bugallon solar power project (BSPP) in Pangasinan province.
The two companies formalized the deal through an omnibus loan and security arrangement (OLSA) signed on Oct. 28, 2025, at RCBC Plaza in Makati City, according to a statement issued on Monday, Nov. 3.
BGEC is a subsidiary of Rizal Green Energy Corp. (RGEC), a joint venture (JV) between PetroGreen Energy Corp. (PGEC) and Japan’s Taisei Corp.
PGEC President and Chief Executive Officer (CEO) Francisco G. Delfin Jr. and RCBC Group Head of Institutional Banking Elizabeth E. Coronel led the signing ceremony.
Located in Bugallon, Pangasinan, the solar facility forms part of PGEC’s ongoing efforts to expand its renewable energy (RE) portfolio.
Once operational, the plant is expected to generate about 36 gigawatt-hours (GWh) of electricity annually—enough to power more than 15,000 households and offset roughly 25,000 metric tons (MT) of carbon emissions each year.
“This financing milestone reflects our unwavering commitment to increase the country’s power supply from indigenous energy sources,” said Delfin.
“We are grateful for RCBC’s continued trust and partnership which enables us to contribute to the country’s clean energy transition and rural development,” he added.
RCBC said its support for the Bugallon project underscores the bank’s sustainability agenda and its role as a key financier of green infrastructure in the Philippines.
“The loan agreement was finalized under RCBC’s sustainable finance framework, reinforcing the bank’s role in enabling climate-resilient developments that promote sustainable economic growth,” Coronel said.
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