The 99MW Mindanao solar plant in Tantangan, South Cotabato, which represents ₱4.49 billion (£0.06bn) of investment, will also prevent 66,000 tonnes of carbon emissions every year.
The project is supported by funding from British International Investment (BII), the UK’s development finance institution, alongside HSBC and Pentagreen Capital.
Mike Welch, Chargé d’Affaires a.i. at the British Embassy Manila said: “This new joint financing facility between the UK’s British International Investment and Pentagreen with ib vogt Singapore will support a 99MWp solar power project in South Cotabato, Mindanao.
“This will have a positive impact on local communities and businesses, as well as supporting the broader energy transition in the country.”
The solar project builds on a growing portfolio of UK investments in renewables in the Philippines, including recent support for wind farms across Luzon and Visayas and backing for what will become the country’s largest solar installation in Nueva Ecija.
