Bugallon Green Energy Corporation (BGEC), a subsidiary of Rizal G

reen Energy Corporation (RGEC) and part of the PetroGreen Energy Corporation (PGEC) group, has obtained an PHP826-million loan facility from Rizal Commercial Banking Corporation (RCBC) to finance the development of a new solar power plant in Pangasinan.

The loan agreement, formalized through an Omnibus Loan and Security Arrangement (OLSA) signed on October 28, 2025, will fund the construction of the 25.01 MWdc / 18.56 MWac Bugallon Solar Power Project (BSPP) located in Bugallon, Pangasinan.

Once operational, the facility is expected to generate 36 gigawatt-hours of renewable energy annually, thus providing electricity to more than 15,000 households and helping avoid around 25,000 metric tons of carbon emissions per year.

PGEC President and CEO Francisco G. Delfin Jr. said the financing milestone spotlights the company’s dedication to expanding the country’s renewable power capacity. “We are grateful for RCBC’s continued trust and partnership which enables us to contribute to the country’s clean energy transition and rural development,” Delfin said.

RCBC Executive Vice President and Head of Institutional Banking Group Elizabeth E. Coronel said the agreement was finalized under the bank’s Sustainable Finance Framework, reinforcing its role in enabling climate-resilient projects and promoting sustainable economic growth.

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