ACEN and renewable energy company Yanara have secured a $37.4 million (PHP 2.3 billion) project finance facility for the construction of the 75 MW Sual Solar project in Pangasinan, Philippines.
The project is expected to generate around 112 GWh of renewable electricity annually, sufficient to meet the power requirements of approximately 69,000 households. It is also estimated to avoid around 86,000 tonnes of carbon dioxide emissions each year.
The financing has been provided by Rizal Commercial Banking Corporation and arranged through Renovable Earth Corporation, a subsidiary of Yanara Philippines Corporation.