ACEN And Yanara Secure $37.4 Million Financing For 75 MW Sual Solar Project

ACEN and Yanara have secured a ₱2.3 billion ($37.4 million) project finance facility from Rizal Commercial Banking Corporation (RCBC) to support the construction of the 75 MW Sual Solar project in Pangasinan, Philippines.

The financing was secured through Renovable Earth Corp. (REC), a subsidiary of Yanara Philippines Corp. REC is part of the strategic partnership between ACEN and Yanara, which aims to accelerate renewable energy development in the Philippines.

RCBC Trust Corporation will act as the Facility Agent and Security Trustee, while RCBC Capital Corporation will serve as the Mandated Lead Arranger. The signing of the loan agreement marks an important step toward achieving financial close for the Sual Solar project.

The financing also highlights continued confidence among Philippine financial institutions in renewable energy investments. The project is expected to contribute to the country’s energy security while supporting its transition toward a lower-carbon power system.

Sual Solar is Yanara’s first project in the Philippines in partnership with ACEN. The project has been selected under the Department of Energy’s Green Energy Auction Program 4 (GEA-4), which is designed to accelerate the development of renewable energy capacity across the country.

Once operational, the 75 MW solar project is expected to generate approximately 112 GWh of renewable electricity annually. This output will be sufficient to supply electricity to around 69,000 homes and is expected to prevent approximately 86,000 tons of carbon dioxide emissions each year.

The project is also expected to provide significant economic benefits to the local community. During the construction phase, Sual Solar is projected to create around 1,500 jobs, providing employment opportunities while supporting local economic activity.

The project represents another step in expanding the Philippines’ renewable energy capacity and demonstrates the growing role of private investment and local financial institutions in supporting the country’s clean energy transition.