BPI sustainable financing hits P54 billion

MANILA, Philippines — Sustainable Development Finance (SDF) disbursements of Ayala-led Bank of the Philippine Islands reached P54 billion in 2025, bringing total releases under the program to P376 billion across 532 projects.

BPI said this was the highest cumulative sustainable finance total in the Philippine banking industry, with the supported projects expected to reduce greenhouse gas emissions by 41 million tons annually.

The program has become a major platform for BPI’s renewable energy financing push, with the bank supporting large-scale solar, wind, hydro and battery energy storage projects as the country moves to strengthen energy security and accelerate its transition to cleaner power sources.

Among its largest transactions, BPI served as one of the biggest lenders in the P214.87-billion syndicated facility for Prime Infrastructure’s two pumped-storage hydropower plants in Laguna and Rizal. The projects have a combined capacity of two gigawatts and are expected to support national grid stability.

BPI is also among the lenders backing the P150-billion MTerra Solar project, which consists of a 3,500-megawatt peak solar facility and a 4,500-MW hour battery energy storage system in Nueva Ecija and Bulacan. Once completed, the project is expected to become one of the world’s largest integrated solar and battery energy storage facilities.

The bank is also financing a P3.98-billion loan facility for Citicore Renewable Energy Corp.’s 113-MWp solar project in Pangasinan and is participating in the P12.63-billion syndicated loan for CREC’s 377-MWp solar project in Batangas.

BPI has expanded its renewable energy portfolio beyond solar. Together with other lenders, the bank partially financed the capital expenditures of ACEN Corp.’s P34.41-billion Quezon North Onshore Wind Power project, which is expected to become the largest onshore wind facility in the Philippines once completed.

In 2024, BPI also signed an P8-billion maiden deal with Alternergy Group to help finance a 128-MW wind farm in Tanay, Rizal. Of the total facility, P4 billion is supported by BPI’s green bond issued with the International Finance Corp.

The bank also financed two solar projects of Advent Upgrade Solar Inc. in Polillo, Quezon and Lima, Batangas and supported SN Aboitiz Power Group’s battery energy storage systems in Isabela and Benguet.

BPI is also financing a P6.1-billion project with Cornerstone Energy Development Inc. to support Aboitiz Renewables Inc.’s first wind power facility, a 58.5-MW project in Libmanan, Camarines Sur. It also provided a P2.5-billion term loan for a 20-MW battery energy storage project at AP Renewables Inc.’s geothermal power plant in Laguna.

The bank likewise co-financed Levanta Renewables, through Magallanes Solar Energy Corp., with a P6.22-billion facility for a 166-MWp solar project and an 80-MWh battery energy storage system in Barotac Viejo, Iloilo.

BPI said Prime Infra’s pumped-storage hydropower plants, CREC’s solar project in Batangas and the MTerra Solar development have been certified as Energy Projects of National Significance. Except for MTerra Solar, the renewable energy projects financed by BPI were awarded under the Department of Energy’s Green Energy Auction Program.

“These transactions underscore BPI’s commitment to enabling large-scale infrastructure that advances energy security and sustainability,” BPI institutional banking head Louie Cruz said.

“We are proud to work alongside industry leaders to deliver projects that will help power the country’s transition to a cleaner, more resilient energy future,” he said.

BPI said its lending, investment banking and trust units have allowed the group to execute complex, multi-party transactions in the energy sector. BPI Capital Corp., its investment banking arm, also helped arrange and syndicate several of the facilities.