Citicore Renewable Energy Corporation (CREC) has signed a Php 3.97 billion project finance loan facility with the Bank of the Philippine Islands (BPI) to support the 113 MWp Citicore Solar Pangasinan 2 project in Binalonan, Pangasinan.
BPI Capital Corporation acted as sole lead arranger for the transaction. The project, which is currently under construction, has received a Certificate of Energy Project of National Significance from the Department of Energy, facilitating expedited approvals for commissioning by end-2025. It is part of CREC’s broader portfolio in the province, which includes two other projects: the under-construction Citicore Solar Pangasinan project in Sta. Barbara and the Citicore Wind Pangasinan project in early development.