PHRI secures P2.65B loan for 75-MW solar project

By Eireene Jairee Gomez

Sep 01, 2022 12:13 am

PH Renewables Inc. (PHRI), a subsidiary of MGEN Renewable Energy Inc. (MGreen), secured a P2.65-billion, 15-year term project financing facility from Rizal Commercial Banking Corp. (RCBC) to fund the ongoing construction of its 75-MWac solar project in Baras, Rizal.

In a statement on Wednesday, MGEN welcomed RCBC's partnership in the loan facility, with the latter's Capital Corp. (RCBC Capital) as the lead arranger.

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