“Championing sustainable infrastructure is more than financing. It is about laying the groundwork for a sustainable and climate-resilient future. At BDO, we take pride in partnering with companies that drive innovation, uplift communities and fuel national progress.”
Thus said Charles M. Rodriguez, BDO Executive Vice President and Head of the Institutional Banking Group, referencing the Bank's commitment to a greener future and moves that champion sustainable finance by supporting initiatives that promote inclusive growth, environmental stewardship, and long-term economic resilience.
Since launching its Sustainable Finance Program in 2010, BDO has funded P1.04 trillion in sustainable projects across the energy, infrastructure, water, transportation, and community development sector.
It has worked closely with clients across multiple sectors. The Bank served as the anchor lender of the syndicated term loan facility for San Miguel Global Power Holdings Corporation’s (SMGP) Battery Energy Storage System (BESS), one of the largest integrated battery energy storage systems globally.
SMGP's BESS started in 2018 when it acquired the 10 MW Masinloc Battery Energy Storage System of the Masinloc Power Plant in Zambales from AES Philippines. The Masinloc BESS is the first battery energy storage facility in the Philippines and one of the first in Southeast Asia.
SMGP's 32 BESS facilities nationwide provide a combined capacity of 1,000 MWh, enhancing power quality and stability by addressing the intermittency of renewable energy sources. This supports the development of other renewable sources, aligning with the Philippines’ goal of generating 35% of its energy from renewable sources by 2030.
BDO recently financed MTerra Solar, the world’s largest integrated solar and battery storage facility. Spanning over 3,500 hectares across Nueva Ecija and Bulacan, this 3,500 MWp solar farm with 4,500 MWh battery storage system is expected to provide clean energy to approximately 2.4 million households. As the biggest lender to the P150 billion project finance facility, BDO has given the largest commitment among the six-bank syndicate.
The Bank has partnered with ACEN, the Ayala group’s listed energy platform, to finance ACEN’s Onshore Wind Power Project—set to become the largest wind power facility in the Philippines. The project is expected to deliver clean, reliable power to the Luzon grid, help avoid significant carbon emissions, and generate livelihood opportunities for host communities. It serves as a key pillar of ACEN’s renewable energy expansion and a major contribution to the Philippines’ goal of achieving a 35% renewable energy mix by 2030.
On July 28, 2025, ACEN was recognized by the Department of Environment and Natural Resources (DENR) for championing environmental stewardship and region-wide environmental leadership, particularly for having the most DENR-approved renewable energy projects within Central Luzon.
ACEN’s active renewable energy footprint in Region III includes some of the country’s large-scale solar farms: the 585 MW SanMar Solar and 363 MW Palauig Solar in Zambales, the 116 MW Arayat-Mexico Solar in Pampanga and the 4 MW ACEN Tech Hub in Bataan.
BDO is financing P12.04 billion or 35% of the P34.41 billion total loan facility under a 15-year term. BDO plays a key role in the transaction as Senior Lender, while BDO Capital & Investment Corporation (BDO Capital) serves as Joint Lead Arranger, and BDO Trust Investments Group acts as Facility Agent and Security Trustee. The partnership demonstrates BDO’s full support for high-impact and transformational projects.
Additionally, BDO also provided project financing for the development of the largest solar plant in Batangas, Citicore Renewable Energy Corporation’s (CREC) Citicore Solar Batangas 1 project. Comprising two solar plants located in Tuy, Batangas, the P5.6 billion project will have a peak generating capacity of 197 MW once operational and will cover approximately 158,000 households per year.
CREC also pioneered the AgroSolar initiative in the Philippines that enables solar energy generation to co-exist with agriculture. The P2.75 billion Citicore Arayat-Mexico solar farm in Pampanga was completed less than a year after its groundbreaking, and began its full operations in August 2022.
All the projects strengthen BDO’s strategy to align its portfolio with the country’s sustainable development goals while helping clients transition to greener business models and cement its role in nation-building. The Bank also continues to support green buildings, solar rooftop installations, and resource-efficient infrastructure, helping clients reduce energy use and emissions while boosting operational performance.
BDO’s sustainable financing activities are anchored on its board-approved Sustainable Finance Framework, currently the most comprehensive framework in the country for Green, Blue, Social and Gender financing, with 29 eligible categories certified by Morningstar Sustainalytics. (JTD/SunStar Pampanga)
Wind, solar lead indicative power projects until 2028
The Department of Energy (DOE) said that wind and solar energy projects are dominating the indicative power projects from 2023 to 2028.
The DOE defines "indicative wind and solar energy projects" as a list of potential renewable energy projects, that are in the early stages of development. These projects are not yet finalized or under construction but are indicative of future energy infrastructure plans. They represent a pipeline of potential renewable energy sources that the country's energy department is tracking, in the government's bid to shift towards clean energy.
According to the DOE, a World Bank study in 2023 noted that the Philippines has 178 gigawatts (GW) of offshore wind potential, much that the energy department has pushed for policies that will attract investments in this sector.
Data from the DOE shows that of the 21,127 megawatts (MW) of indicative power projects until 2028, about 74 percent or 15,556.63 MW are renewables dominated by wind and solar projects, sharing 36 percent and 35 percent of the total renewable energy projects, respectively.
As of May 31, 2023, indicative wind projects in six years reached 5,532.4 MW, with prospects of 719.40 MW in 2024, 476 MW in 2025, 1,982 MW in 2026, and 2,355 MW in 2027. On the other hand, indicative solar energy projects from 2023 to 2028 have reached 5,497.93 MW, shared the DOE.
There are prospective solar projects of 1,162.36 MW in 2025; 539.54 MW in 2026; 365.62 MW in 2027; and 181.2 MW in 2028. The DOE said there are 9,557.39 MW of committed power capacity until the end of the Marcos, Jr. administration. These projects in the pipeline have already secured power supply agreements, financial closing, impact studies and permits. About 3,665.68 MW are committed renewable energy projects.
As of June 2024, the DOE disclosed that at least 1,435 service contracts with a total potential capacity of more than 156,700 megawatts had been awarded to renewable energy developers. A total 6,100 MW of these service contracts have already been installed.
The country aims to increase the share of renewable energy in the generation mix, targeting 35 percent by 2030 and 50 percent by 2040.
Currently, the DOE is actively fostering high-impact investments in emerging sectors like offshore wind, battery storage, and liquefied natural gas. Reforms like the Energy Virtual One-Stop Shop have significantly cut down the processing time for energy projects, while human capital development focuses on creating a future-ready workforce. (JTD/SunStar Pampanga)