28 August 2026 – ACEN and Yanara have secured a ₱2.3 billion ($37.4 million) project finance facility from Rizal Commercial Banking Corporation (RCBC) to fund the construction of the 75 MW Sual Solar project in Pangasinan.
The facility was secured through Renovable Earth Corp. (REC), a subsidiary of Yanara Philippines Corp., the strategic partnership between ACEN and Yanara that brings together the two companies' renewable energy expertise and shared commitment to accelerating the Philippines' transition to clean energy.
RCBC Trust Corporation acted as Facility Agent and Security Trustee, while RCBC Capital Corporation served as Mandated Lead Arranger. The signing of the loan agreement represents a key milestone toward financial close for the Sual Solar project and reflects the continued confidence of Philippine financial institutions in the country's renewable energy sector, supporting investments that strengthen energy security while accelerating the transition to a lower-carbon economy.
Patrice Clausse, Group Chief Investment Officer, ACEN, said: “This financing is a strong vote of confidence in our partnership with Yanara and in the long-term growth of renewable energy in the Philippines. As demand for reliable and sustainable power continues to grow, investments such as Sual Solar help strengthen the country's energy security, support local economic development, and advance the transition to a cleaner energy future.”
Jerome Ortiz, Chief Executive Officer of Yanara, said: “The successful signing of the project finance facility for Sual Solar marks an important milestone in Yanara’s partnership with ACEN and reinforces our shared commitment to accelerating the Philippines’ energy transition. We are grateful for the trust and confidence shown by RCBC and all our financing partners in helping bring this project to fruition.”
Sual Solar is Yanara’s maiden project in the Philippines with ACEN and falls under the Department of Energy’s Green Energy Auction Program 4 (GEA-4), a key national initiative to accelerate renewable energy deployment.
Once operational, Sual Solar is expected to generate approximately 112 GWh of renewable electricity annually – enough to power around 69,000 homes and avoid an estimated 86,000 tons of carbon dioxide emissions each year. During construction, the project will create approximately 1,500 jobs, delivering economic opportunities for local communities alongside clean and reliable energy. |
About ACEN
ACEN (PSE:ACEN), the Ayala group’s listed energy platform, is one of the fastest-growing renewable energy platforms in Asia Pacific, with the Philippines as its core and largest market. It also has a significant presence in Australia, Vietnam, India, and Lao PDR, along with strategic investments in Indonesia and other markets. The company currently has over 7 GW of attributable renewable energy capacity spanning operational, under-construction, and committed projects.
As a developer, builder, and operator, ACEN leverages its agility and collaborative approach to accelerate the energy transition. The company has 100% renewable energy generation and aims to reach Net Zero greenhouse gas emissions by 2050—turning bold ambitions into real impact for businesses, communities, and indigenous groups.
www.acenrenewables.com
For inquiries and more information, please contact:
Irene Maranan
Head – Corporate Communications and Sustainability
Email: [email protected]
About Yanara
Yanara is a pioneering leader in advancing renewable energy across the Asia Pacific region, transforming availability into reliability through firm and dispatchable renewable power solutions. Our commitment is to meet the region's burgeoning electricity demand with innovative utility-scale hybrid multi-technology projects integrating solar, wind, and/or energy storage technologies. Yanara delivers safe, reliable, and cost-effective power solutions for utilities, industries, and digital infrastructure. With strong engineering and execution capabilities, we’re advancing the dual shift to cleaner power and deeper electrification—while creating lasting value for communities and customers alike. Operating in India, the Philippines, and Australia, Yanara is purpose-built for the next phase of the APAC energy transition. To learn more, visit: www.yanarapower.com
In the Philippines, Yanara has partnered with ACEN to develop, construct, and operate large-scale renewable power projects. It has secured a 20-year power purchase agreement with the Philippine government to supply clean electricity to the national grid from its 75 MWdc Sual Solar Plant, with delivery commitments scheduled between 2026 and 2029.
For inquiries, please contact:
Anu Bararia
AVP & Head of Communications
Email: [email protected]
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure. |
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