Prime Infra has secured financing agreements worth approximately Php 273.47 billion to support the development of a pumped storage project (PSP) portfolio with a combined capacity of 2,000 MW.
The financing package includes two separate agreements. One agreement involves project financing of about Php 214.87 billion arranged through a bank syndicate comprising Bank of the Philippine Islands, BDO Unibank Inc., China Banking Corporation, Land Bank of the Philippines, Metropolitan Bank & Trust Company, Philippine National Bank, Security Bank Corporation, and Union Bank of the Philippines. The financing will be classified as a green loan with assistance from MUFG Bank.