MGen closes P150-B loan for Terra Solar development

MGen closes P150-B loan for Terra Solar development

MANILA, Philippines – Meralco PowerGen Corp. (MGen) said Tuesday it had closed its P150-billion financing to fund its mammoth solar farm in Luzon. MGen touted this as the biggest syndicated loan yet in the Philippines. The loan deal was backed by the country’s major lenders: BDO Unibank, Inc., Security Bank Corp., China Banking Corp., Philippine

MGen secures ₱150-billion loan for Philippines' largest solar, battery project

Meralco PowerGen Corporation (MGen) announced that its affiliate, Terra Solar Philippines, Inc. (MTerra Solar), has secured financing for what is poised to be the country's largest integrated solar and battery energy storage project.In a statement on Tuesday, April 22, MTerra Solar confirmed the finalization of a ₱150 billion loan agreement with six local banks to fund the 3,500 megawatt-peak (MWp) solar and 4,500 megawatt-hour (MWh) battery ene…