Insider Spotlight
The transaction is a milestone for Alba Renewables, marking its first project financing following its acquisition by global investment firm Brookfield Asset Management.
It also reflects growing investor confidence in the Philippines’ renewable energy sector, underpinned by long-term offtake certainty and institutional sponsorship.
Why it matters
The financing supports a utility-scale solar project that will contribute renewable capacity to the Luzon grid at a time when the country is accelerating its clean energy transition and diversifying its power mix.
Security Bank Capital served as mandated lead arranger and bookrunner, while Security Bank acted as sole lender, providing the full senior term loan facility to fund construction and development.
The structure highlights the bank’s capacity to mobilize capital for long-term infrastructure projects aligned with sustainability goals.
“This transaction reflects our commitment to financing high-quality renewable energy projects that deliver long-term value,” said Virgilio O. Chua, president and CEO of Security Bank Capital.
“By supporting Alba Renewables’ Solar Valley project, we are helping accelerate the country’s clean energy transition while backing infrastructure that contributes to energy security, emissions reduction, and resilient growth.”
Between the lines
Details of the transaction were disclosed through a company release, underscoring the strategic importance both sides place on communicating progress in sustainable finance and renewable energy development.
Solar Valley will supply renewable power to the Luzon grid under a fixed 20-year tariff awarded through the government’s Green Energy Auction Program, providing revenue stability and long-term cash flow visibility.
Construction is currently underway, supported by Alba Renewables’ development expertise and Brookfield’s global operating capabilities.
“Renewable energy plays a critical role in supporting inclusive and sustainable economic growth,” said Yvonne Marcelo, head of Security Bank’s corporate banking group.
“By financing projects like Solar Valley, we help strengthen the country’s energy mix while enabling reliable, cost-competitive power for communities and businesses.”
What’s next
The project is a joint venture between Alba Renewables Philippines and Soleos Energy Partners Pte. Ltd. Once operational, it is expected to deliver meaningful carbon emissions reductions and support national renewable energy targets.
Alba Renewables focuses on utility-scale solar, wind, and battery storage projects across Southeast Asia. — Princess Daisy C. Ominga | Ed: Corrie S. Narisma
