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SB Capital seals P2.02-B financing for Isabela solar project
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BusinessWorld Online
SB CAPITAL INVESTMENT Corp., the investment banking arm of Security Bank Corp., has closed a P2.015-billion financing facility for a solar power project in San Pablo, Isabela, as part of the bank’s push to support renewable energy.
The facility will fund the construction and development of Solar Valley Energy Solutions, Inc., a 65-megawatt-peak (MWp) ground-mounted solar power project, the bank said in a statement on Thursday.
Ltd.“This transaction reflects our commitment to financing high-quality renewable energy projects that deliver long-term value,” Security Bank Capital Investment Corp. President and Chief Executive Officer Virgilio O. Chua said.
“Construction is currently underway, supported by the development expertise of Alba Renewables and the global operating capabilities of Brookfield,” Security Bank said.
The transaction also marks Alba Renewables’ first project financing following its acquisition by global investment firm Brookfield Asset Management.