Security Bank Corp. has arranged a ₱2.7-billion, 15-year green project finance facility to support the development of an 80.6-megawatt (MW) solar power plant in Currimao town, Ilocos Norte province, reinforcing its expanding role in financing renewable energy (RE) capacity in the Philippines.

The transaction underscores the bank’s continued participation in large-scale energy transition projects, with the facility supporting Astra Solar Energy Corp.’s solar development, Security Bank said in a statement on Tuesday, April 21.

Security Bank acted as sole lender, green loan coordinator, and hedging bank for the deal, while Security Bank Capital Investment Corp. served as mandated lead arranger and bookrunner.

“This transaction reflects our continued focus on financing infrastructure that supports long-term economic growth and energy transition,” said John Cary Ong, Security Bank executive vice president (EVP) and wholesale banking segment head.

The project is part of a broader RE cluster in Currimao, which includes Mirae Asia Energy Corp.’s 20-MW solar facility and Nuevo Solar Energy Corp.’s 83-MW plant, both under Singapore-headquartered Vena Energy.

Security Bank serves as the sole lender across the three adjacent projects, further strengthening its position as a key financial partner of Vena Energy in the Philippines.

“We’re pleased to continue our partnership with Security Bank, who have now financed over 800 MW of clean energy capacity with us in the Philippines. This reflects the strong confidence local financial institutions have in the country’s renewable energy sector and in Vena Group’s ability to deliver reliable, clean energy to Filipino communities,” said Simone Grasso, chief investment officer (CIO) at Vena Group.

To date, Security Bank has supported 25 RE projects with a combined capacity of 1,580 MW, underscoring its role in financing infrastructure tied to the country’s low-carbon transition.