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Manila Bulletin devider Business devider Trade & Industry devider San Miguel Power deploys ₱4.5-billion bond cash for green shift

San Miguel Power deploys ₱4.5-billion bond cash for green shift

Published Apr 25, 2026 12:10 am  |  Updated Apr 25, 2026 01:47 pm
San Miguel Global Power Holdings Corp., the energy unit led by billionaire Ramon Ang, has deployed ₱4.5 billion from its latest bond proceeds to accelerate the rollout of renewable energy projects in country.
In a regulatory filing with the Philippine Dealing System Holdings, the company said that the funds are being utilized to drive the development of its hydroelectric and solar power assets.
The renewable energy allocation is divided between ₱2.71 billion for several hydropower developments and ₱1.78 billion for solar power initiatives.
SMGP noted that the disbursements cover project costs and the procurement of specialized green energy equipment required to bring these assets online.
The clean energy push accounts for a significant portion of the ₱11.42 billion in initial spending from the company’s ₱30 billion bond offering. With ₱18.56 billion in net proceeds still available for deployment, SMGP is positioned to further expand its renewable footprint in line with the government’s decarbonization targets.
The Department of Energy has been urging developers to fast-track approximately 1,471 megawatts of clean energy projects this month. This call for urgency follows the successful integration of nearly 129 megawatts of new capacity that came online in mid-April.
The energy department recently highlighted five projects that have commenced operations, including the 20.6-megawatt Hermosa Solar Power Project by Solana Solar Alpha Inc. and the 17.5-megawatt Taft Solar Power Project by Taft Solar Energy Corp. Other newly operational assets include the 8-megawatt Biomass Cogeneration Plant expansion by Central Azucarera de San Antonio, the 52.8-megawatt Cordon Solar Power Project by Greenergy For Global Inc., and the 30-megawatt Arayat 3A Solar Power Project by Citicore Solar Pampanga 1 Inc.
According to the agency, the early entry of these projects into the national grid reflects ongoing efforts to accelerate the delivery of committed capacity.
These developments are critical to reinforcing reserve margins and ensuring supply reliability as the Philippine economy continues its post-pandemic expansion, driving a surge in power consumption across industrial and residential sectors. For SMGP, the move signals a strategic shift toward a more diversified energy mix as it balances its traditional base-load portfolio with sustainable alternatives.

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San Miguel Corp. (SMC) renewable energy (RE)
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