ib vogt has executed a mandate letter appointing China Bank Capital Corporation and RCBC Capital Corporation as Lead Arrangers for the project financing of its 320 MWp solar-plus-storage development in the Municipality of Barobo, Surigao del Sur, Mindanao. The mandate contemplates arranging a senior debt facility of up to PHP 12.6 billion (approximately USD 213 million).

The project comprises up to 320 MWp of solar PV capacity paired with a battery energy storage system (BESS), supporting grid stability and peak load management in Mindanao. Once operational, it is expected to generate over 500 GWh of clean electricity annually – sufficient to serve more than 480,000 Filipino households and avoid over 200,000 tonnes of CO₂ emissions per year. Construction is targeted to commence in Q4 2026, with commercial operations expected by the end of 2027.

David Ludwig, CEO APAC, ib vogt, said:“This is our third project in Mindanao and by far our most ambitious. The scale of this financing – and the calibre of the mandated institutions – reflects the depth of confidence in both the project and in the Philippines as a market. We are building a meaningful, long-term presence in the country.”

Juan Paolo Colet, Managing Director of China Bank Capital Corporation, said:“We are very pleased to support ib vogt on their largest solar project in the Philippines to date, and what will be an important renewable energy facility in Mindanao. This project comes at a particularly crucial time as the country accelerates the shift to renewables to ensure energy security and sustainable economic growth.”

Arsenio Kenneth M. Ona, President and CEO of RCBC Capital Corporation, said:“We are delighted to continue our strong partnership with ib vogt on yet another major project. Hot on the heels of our recently closed financing for their 80 MWac solar and Battery Energy Storage System (BESS) project in Iloilo, Philippines, this new venture underscores our shared commitment to renewable energy.“ The project forms part of ib vogt’s active development pipeline exceeding 1,000 MWp across the Philippines.