PGEC’s Bugallon Green Secures P826M Loan Deal with RCBC

PGEC President and CEO FG Delfin, Jr. (4th from left) and RCBC Group Head of Institutional Banking Elizabeth E. Coronel (5th from left) led the loan signing ceremony on October 28, 2025 at RCBC Plaza

Yuchengco-led Bugallon Green Energy Corporation (BGEC) signed an Omnibus Loan and Security Arrangement (OLSA) for P826 million loan facility with Rizal Commercial Banking Corporation (RCBC) for the development of the 25.01 MWDC/ 18.56 MWAC Bugallon Solar Power Project (BSPP). BGEC is a subsidiary of Rizal Green Energy Corporation (RGEC), a joint venture between PetroGreen Energy Corporation (PGEC) and Japan’s Taisei Corporation.

The solar facility, located in Bugallon, Pangasinan, is a key component of PGEC’s continued build-up of its RE portfolio. Once operational, the plant is expected to generate approximately 36 gigawatt-hours annually, enough to power over 15,000 households and offset approximately 25,000 metric tons of carbon emissions per year.

“This financing milestone reflects our unwavering commitment to increase the country's power supply from indigenous energy sources” said PGEC President and CEO Francisco G. Delfin, Jr. “We are grateful for RCBC’s continued trust and partnership which enables us to contribute to the country's clean energy transition and rural development,” adds Delfin.

RCBC’s support for the Bugallon project aligns with its broader sustainability agenda and its role as a key financier of green infrastructure in the Philippines.
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RCBC's EVP and Head of Institutional Banking Group Elizabeth E. Coronel declared, "The loan agreement was finalized under RCBC’s Sustainable Finance Framework, reinforcing the bank’s role in enabling climate-resilient developments that promote sustainable economic growth."