Philippine National Bank (PNB) has extended a P3-billion project finance facility to Linglingay Power Corp. to support the development of a solar power plant in Isabela, according to Philstar Biz.
The solar project is expected to contribute to the country's renewable energy capacity, aligning with the government's push for cleaner energy sources. PNB's involvement underscores the growing interest of Philippine banks in funding green energy initiatives.
Linglingay Power Corp. will use the funds to construct and operate the solar facility, which aims to boost power supply in the region. The project is part of a broader trend of increasing private sector investment in renewable energy in the Philippines.