PGEC’s San Jose Solar Power Project Secures P498 Million Financing from RCBC

San Jose Green Energy Corporation (SJGEC), a subsidiary of Rizal Green Energy Corporation (RGEC), signed on 10 June 2025 an Omnibus Loan and Security Arrangement (OLSA) for a P498 million term loan facility with Rizal Commercial Banking Corporation (RCBC) as Lender, RCBC Capital Corporation as Lead Arranger, and RCBC Trust Corporation as Facility Agent and Security Trustee for the partial financing of its 19.6MWDC San Jose Solar Power Project (SJSPP) in Nueva Ecija. RGEC is a joint venture of the Yuchengco-led PetroGreen Energy Corporation (PGEC) and Japan’s TAISEI Corporation.

Leading the signing ceremony were SJGEC President F. G. Delfin, Jr. and RCBC Executive Vice President Elizabeth E. Coronel. 

The SJSPP is in its final stages of regulatory approval prior to commercial operations having achieved significant milestones. On 14 April 2025, the project received its Final Certificate of Approval to Connect (FCATC) from the National Grid Corporation of the Philippines and submitted its application for the project’s Certificate of Compliance (COC) with the Energy Regulatory Commission (ERC) on 15 April 2025. ERC technical personnel conducted a technical inspection of SJSPP’s facilities and operations on June 11, 2025 as part of the COC requirement.

Upon the issuance of the COC, the SJSPP will be PGEC’s eighth (8th) utility-scale renewable energy facility and the third (3rd) project financed by RCBC after the 32MW Maibarara geothermal plant and the 27MWDC Dagohoy solar plant. SJSPP is expected to generate an average of 27 GWh of electricity annually and displace at least 18,900 tons of CO2 emissions each year. This milestone underscores the shared commitment of PGEC and RCBC, both Yuchengco Group of Companies (YGC) members, in increasing the country’s power supply, advancing sustainable energy, and fostering a greener future for the Philippines.