LandBank approves P11.68 billion loan for five Citicore solar projects in Batangas
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What happened
LandBank announced approval of a P11.68-billion loan to Citicore Renewable Energy Corp. for five Batangas solar projects under a broader P35.014-billion syndicated facility with DBP and BPI.
Why it matters
The announcement shows domestic bank financing is being committed to named renewable projects, which can move generation capacity and storage from development into construction. It also gives the energy sector a current read on lender appetite for large utility-scale solar in the Philippines.
Land Bank of the Philippines said on October 27 that it approved a P11.68-billion loan to Citicore Renewable Energy Corp. for five solar projects in Batangas. The financing forms part of a roughly P35.014-billion syndicated facility with Development Bank of the Philippines and Bank of the Philippine Islands. The projects are tied to 900 MWp of solar capacity plus storage, making this a concrete financing step for utility-scale renewable buildout rather than a policy statement or pipeline projection.
Watch for
Land Bank of the Philippines disclosure on first loan drawdown or financial close details for the Citicore facility by 2026-10-30 Department of Energy acknowledgement of the Batangas projects' capacity, storage component, or target commissioning window by 2026-10-30 Development Bank of the Philippines confirmation of its participation size or syndication terms by 2026-10-30 Citicore Renewable Energy Corp. filing or statement on EPC notice-to-proceed, procurement award, or construction mobilization in Batangas by 2026-10-30
Sources
- LandBank lends ₱11.68B for CREC’s solar projects · businessmirror.com.ph