PNB funds P3-B Isabela solar project 

The Philippine National Bank (PNB) has extended a P3 billion project finance facility to support the development of an 82-megawatt-peak (MWp) solar power project in Isabela.

The Lucio Tan-led bank said on Thursday the funding will go to Linglingay Power Corp. (LPC), a wholly owned subsidiary of Hexa Philippines Holdings Inc. (HEXA). This is for the construction of a ground-mounted solar facility in Barangay Linglingay in Gamu town.

The project forms part of the Department of Energy’s Green Energy Auction Program Round 2 which aims to accelerate the development of renewable energy projects through a competitive auction mechanism.

Once completed, the solar facility is expected to generate enough electricity to power around 25,000 to 35,000 households annually. Commercial operations are targeted to begin by December 2026.

“This partnership reflects PNB’s vision of powering a cleaner, more sustainable future, where investments in renewable energy drive progress, strengthen communities, and create lasting value for the next generation of Filipinos,” PNB president and CEO Edwin Bautista said.

The lender noted that the project is expected to contribute to the expansion of renewable energy capacity in Northern Luzon while helping reduce carbon emissions and improve energy security.

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For HEXA, the project represents another step in a broader expansion strategy in the renewable energy sector.

Angelito Lantin, HEXA director of development and LPC treasurer, said the financing agreement capped months of collaboration among various stakeholders and reflected confidence in the long-term viability of the project.

Meanwhile, HEXA managing director Christopher Chua said the company is advancing nearly 600 MWp of solar power capacity across its operating and under-construction portfolio.