ABOITIZ Renewables Inc., through unit AP Renewable Energy Corp., secured a P7.4-billion project finance facility from Bank of the Philippine Islands to fund the 221-megawatt peak Olongapo solar power plant in Zambales.
The facility will support engineering, construction, operations and maintenance of the project, which is 95 percent complete and set for commissioning in the third quarter of 2025.
Once online, it will be Aboitiz Renewables’ largest solar project, connecting to the Castillejos 230-kilovolt substation.
The company said the project marks a significant boost to AboitizPower’s clean energy portfolio and the country’s energy transit-
ion targets. / KOC