CONCEPCION, Tarlac – Central Luzon’s push toward clean energy just gained massive momentum after Angeles Power, Inc. (API) secured a P2-billion financing facility from the Bank of the Philippine Islands (BPI).
The multi-billion-peso funding is set to fast-track the construction of API’s 49.9-megawatt alternating current (MWac) PALDO CT Solar Project, a utility-scale development poised to bolster the region’s renewable energy capacity.
The announcement came amid ongoing construction works at the project area in Barangay Talimundoc San Miguel, in Concepcion town, where the preparations for installing solar energy devices had already started. The solar energy project is being undertaken by Angeles Power, Inc., parent company of Raslag Corp., a listed renewable energy company, which has recently expanded its operations here in the rapidly growing renewable energy market of the country.
The loan proceeds will go into funding the different processes in the construction of the solar facility, which include: the engineering processes, purchase of equipment, construction of facilities, and other infrastructural requirements.
The construction of the PALDO CT Solar Project is among the few large-scale projects in the field of renewable energy currently being developed in the province. The first set of solar panels that will be used in the construction of the said project has already been delivered to the construction site – representing yet another achievement in the implementation of the project.
Construction activities began with the groundbreaking on May 20, 2026. Livelihood assistance activities were also made for the people residing near the construction site.
