Angeles Power Secures Financing for 50-MW Solar Project in the Philippines

Angeles Power Inc. (API) has secured a PHP 2-billion loan from the Bank of the Philippine Islands (BPI) to support the development of its 49.9-MWac PALDO CT Solar Project in Concepcion, Tarlac Province. The financing will partially fund the construction of the utility-scale solar facility, marking a key milestone in the company’s renewable energy expansion plans.

The PALDO CT Solar Project is expected to strengthen clean energy generation in the region and support the Philippines’ broader renewable energy objectives. According to the company, the project is intended to replace a 30-MW embedded power plant, aligning with efforts to transition toward more sustainable power sources.

Construction activities are progressing, with the first shipment of solar panels already delivered to the project site. The development represents Angeles Power’s continued investment in renewable energy infrastructure and contributes to the country’s goal of increasing the share of renewables in its energy mix.