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Manila Bulletin devider Business devider Banking & Finance devider Aboitiz unit lands ₱6.1-billion loan from BPI for onshore wind

Aboitiz unit lands ₱6.1-billion loan from BPI for onshore wind

Published Mar 10, 2026 02:42 pm
The Bank of the Philippine Islands (BPI) extended a ₱6.1 billion project finance facility to Cornerstone Energy Development Inc. (CEDI), a subsidiary of Aboitiz Renewables Inc., marking the lender’s latest move to solidify its position in the sustainable finance market.
BPI said the funding will support the construction of a 58.5-megawatt onshore wind power project in Libmanan, Camarines Sur, marking Aboitiz Power Corp.'s first foray into wind energy, the parent company of Aboitiz Renewables.
The project is expected to play a critical role in expanding the nation’s renewable energy capacity and meeting the Department of Energy’s long-term targets for a cleaner power mix.
BPI has been aggressively pivoting toward green financing as part of a broader push to align its loan book with global environmental standards.
“This project reflects the role we envision for BPI in accelerating the Philippines’ transition to a more sustainable energy landscape,” Louie Cruz, BPI Institutional Banking head, said.
He said the collaboration with CEDI and the Aboitiz Group also underscores a commitment to financing projects that deliver long-term environmental and economic impact.
For Aboitiz Power, the Libmanan wind farm is a milestone in its transition strategy. The company has been vocal about its ambition to reach a 50:50 balance between its renewable and thermal portfolios by the end of the decade.
Once operational, the facility is expected to supply clean electricity directly to the national grid, significantly reducing greenhouse gas emissions while bolstering the reliability of power supply in Southern Luzon.
Beyond its environmental metrics, the project is slated to provide an economic lift to seven communities within the municipality of Libmanan. Local officials expect the development to generate employment opportunities and lead to infrastructure improvements and community-driven social programs.
The continued partnership with BPI proves that transformation does not happen in isolation, said Jimmy Villaroman, president of Aboitiz Renewables. He noted that the cooperation shows that progress and sustainability can drive inclusive growth.

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Bank of the Philippine Islands Aboitiz Renewables Cornerstone Energy Development Inc. Jimmy Villaroman
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