Security Bank Corp. has refinanced a 17.4-megawatt solar power plant in Hermosa, Bataan, according to a report by Philstar Biz. The transaction strengthens the bank’s renewable energy portfolio and underscores the growing role of local lenders in funding projects that supply electricity to electric cooperatives.
The solar facility, located in the Hermosa ecozone, is expected to deliver power to rural electric cooperatives under long-term agreements. The refinancing provides the project sponsor with improved terms and capital structure, enabling stable operations and potential expansion.
Security Bank’s move reflects the broader push by Philippine banks to support renewable energy as the country seeks to diversify its power generation mix and reduce reliance on imported fossil fuels. The deal also highlights increased domestic bank appetite for infrastructure financing in the clean energy sector.