^{In photo: Groundbreaking ceremony of the PALDO CT SOLAR POWER PLANT at Barangay Talimundoc San Miguel, Concepcion, Tarlac on May 20 led by Concepcion Mayor Noel Villanueva.}

Angeles Power, Inc. (API), the parent company of listed renewable energy firm RASLAG, has secured a PHP 2-billion loan from Bank of the Philippine Islands to support the development of its 49.9-megawatt alternating current (MWac) PALDO CT Solar Project in Concepcion, strengthening funding support as the project transitions further into construction execution.

The financing will be used to advance development works for the utility-scale solar facility, which forms part of API’s expanding renewable energy portfolio in Luzon.

The project has already reached early construction milestones, following its groundbreaking ceremony held on May 20 in Barangay Talimundoc, San Miguel, marking the formal commencement of on-site development activities.

During the event, API also held a ceremonial awarding of grants to local beneficiaries under a government-linked livelihood program.

In a separate development, Angeles Power also confirmed that the first batch of solar panels has arrived at the Concepcion site, signalling the start of key equipment mobilisation ahead of installation works.

The delivery marks a critical phase in the project’s execution timeline, bringing PALDO CT closer to eventual integration into the grid once completed.

Are financing milestones outpacing grid readiness in the country’s solar expansion pipeline? Share your thoughts.

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