ib vogt has officially appointed China Bank Capital Corporation and RCBC Capital Corporation as Lead Arrangers for project financing on its 320 MWp solar-plus-storage development in Barobo, Surigao del Sur, Mindanao. The mandate includes arranging a senior debt facility of up to PHP 12.6 billion, or roughly USD 213 million.
The project will deliver up to 320 MWp of solar PV capacity paired with a battery energy storage system to support grid stability and manage peak loads across Mindanao.
Once operational, it’s expected to generate more than 500 GWh of clean electricity annually enough to power over 480,000 Filipino households and cut more than 200,000 tonnes of CO? emissions each year. Construction is set to begin in Q4 2026, with commercial operations targeted by the end of 2027.
Key Comments
David Ludwig, CEO APAC at ib vogt, called it the company’s most ambitious project in Mindanao to date. He noted that the scale of the financing and the caliber of the mandated institutions reflect strong confidence in both the project and the Philippines as a market, signaling ib vogt’s commitment to building a meaningful, long-term presence in the country.
Juan Paolo Colet, Managing Director of China Bank Capital Corporation, said the bank is pleased to support ib vogt on its largest solar project in the Philippines, which will become a key renewable energy facility in Mindanao. He emphasized that the project arrives at a crucial time as the country accelerates its shift to renewables to secure energy supply and drive sustainable economic growth.
Arsenio Kenneth M. Ona, President and CEO of RCBC Capital Corporation, expressed delight in continuing the strong partnership with ib vogt on this major venture. He highlighted that this follows their recently closed financing for ib vogt’s 80 MWac solar and BESS project in Iloilo, underscoring both companies’ shared commitment to renewable energy.
This project is part of ib vogt’s active development pipeline exceeding 1,000 MWp across the Philippines.
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