Security Bank Refinances 17.4 MW Hermosa Solar Plant

Makati City, Philippines — Security Bank Corporation (PSE:SECB) is supporting renewable energy development in the Philippines as the sole lender for the 17.4 MW Solana Solar Beta, Inc.’s (“SSBI”) Solar Power Project (the “Project”) in Hermosa, Bataan, supplying electricity to Peninsula Electric Cooperative, Inc. (“PENELCO”).

Developed by SSBI, part of CN Green Roof Asia (“Green Roof Asia”), the Project is expected to generate approximately 35.5 gigawatt-hours of electricity annually and supplies 10 MW of equivalent generation under a 20-year power supply agreement with PENELCO. Green Roof is grateful for the opportunity to supply PENELCO with renewable energy to meet the energy needs of its customers in the province.

The transaction is the Bank’s first partnership with Climate Fund Managers, a climate-focused blended finance investment manager, and Norfund, the Norwegian investment fund for developing countries - two globally recognized institutions working to mobilize capital for sustainable infrastructure across emerging markets.

The Bank provided a project refinancing facility, with Security Bank Capital Investment Corporation acting as arranger and the Bank’s Trust and Asset Management Group serving as Facility Agent and Security Trustee. The Omnibus Loan and Security Agreement was signed on May 26, 2026, and the loan disbursement was completed on June 25, 2026.

“Electric cooperatives play an important role in delivering electricity to communities across the country,” said Yvonne Marcelo, EVP and Corporate Banking Group Head at Security Bank. “Through this transaction, we are supporting the delivery of additional renewable energy capacity in Bataan while establishing our first partnership with Climate Fund Managers and Norfund. As sole lender, we continue to support investments that contribute to the expansion of renewable energy infrastructure in the Philippines.”

"We are pleased to partner with Security Bank on this transaction, which demonstrates the growing role local financial institutions can play in supporting renewable energy infrastructure in the Philippines," said Ryan Oetama, Investment Director at Climate Fund Managers. "The financing of the Bataan solar project reflects increasing confidence in renewable energy as an attractive investment opportunity that can deliver both commercial returns and positive environmental impact."

“This transaction augments a niche renewable energy supply segment in the Philippines, a core market and a meaningful strategy for Norfund. It will help meet a larger share of domestic energy demand, improve energy security, and increase diversification in both the provincial and national energy mix at a much-needed time. We are grateful to our JV partners in Climate Fund Managers and congratulate Green Roof Asia for delivering this project for its host community. We look forward to working with Security Bank on more transactions in the Philippines,” said Felix Barwinek, Senior Investment Manager at Norfund.

“This refinancing is an important milestone for Green Roof Asia in the Philippines as it demonstrates that well-structured renewable energy projects continue to attract strong financial backing, allowing us to continue to develop, construct, and deliver reliable clean energy infrastructure across Southeast Asia. We look forward to supporting more electric cooperatives and meeting their growing demand,” said Steve Rawles, CEO at CN Green Roof Asia.

Financing renewable energy for electric cooperatives

Security Bank’s participation supports the financing of renewable energy projects serving electric cooperatives, a segment with limited participation from local banks.

PENELCO, the Project’s offtaker, has a peak demand of approximately 148 MW and serves customers across multiple barangays and municipalities in Bataan.

The Project is connected to PENELCO’s distribution system through an embedded connection, enabling the delivery of renewable energy within the cooperative’s service area.

Part of a regional renewable energy platform

The Project forms part of Green Roof Asia’s portfolio of solar developments across Southeast Asia, covering rooftop and utility-scale systems.

Green Roof Asia is a joint venture between Climate Fund Managers’ EU-supported Climate Investor One Fund and Norfund.

Climate Fund Managers raises and deploys blended climate finance funds, working in partnerships to deliver climate mitigation and adaptation solutions in Asia, Africa and Latin America. Norfund’s mandate is to invest in businesses that support sustainable development and the transition to net zero.

A growing renewable energy portfolio

The transaction adds to the Bank’s growing renewable energy portfolio, reflecting its participation in financing 24 renewable energy developments nationwide that collectively represent 4.30 GW of installed capacity. It also contributes to the Bank’s broader sustainable finance portfolio, which reached PHP116.95 billion in total disbursements as of May 2026.

By financing renewable energy projects and expanding partnerships with institutions committed to sustainable development, Security Bank continues to support renewable energy infrastructure in the Philippines.

Vena Energy Formalizes Community Support through a Check Turnover Ceremony to host Indigenous Cultural Communities

Philippines, 24 April 2026] Quezon Wind Energy Corp. (QWEC), a subsidiary of Vena Energy, a leading green energy solutions provider across the Asia-Pacific region, marked a key milestone in its community engagement efforts through a check turnover ceremony for its host community, the Dumagat/Remontado Indigenous Cultural Communities (ICCs) of Tanay. The ceremony was held in Quezon City on 21 April 2026.

The event reflects Vena Energy’s continued commitment to inclusive development and to respecting the rights and heritage of its host communities. The turnover formalizes the remittance of community funds to the Tanay ICCs through the Tanay Dumagat Remontado Ancestral Domain Development, Inc. (TDRADDEVI), the Implementing Indigenous Peoples’ Organization (IPOs) established through the Free, Prior and Informed Consent process.

Through this partnership, Vena Energy supports community-led development initiatives aligned with the priorities identified by the ICCs, including infrastructure improvements, access to education, sustainable livelihood programs, and enhanced healthcare services.

The ceremony was attended by representatives from Vena Energy, led by Mia Jarumayan, Head of Business Development, Project Development and leaders of the Tanay ICCs, led by Eleonor Atencio, President, Tanay Dumagat Remontado Ancestral Domain Development, Inc.

Samrinder Nehria, Head of Vena Energy in the Philippines, said, “At Vena Energy, we believe the transition to clean energy should create lasting value for the communities we work with while honoring the heritage and rights of our host communities. This milestone reflects our shared commitment to ensuring that development is inclusive and celebrates our shared journey toward a sustainable future where indigenous voices are heard and valued.”

A Model for Sustainable Partnership

The collaboration shows a successful model for private-public partnerships in the renewable energy sector. By strictly adhering to the FPIC process, Vena Energy ensures that all projects are built on a foundation of mutual respect and transparent communication. 

“Vena Energy has been a very active and supportive partner throughout the years, and we are very grateful for the opportunities that this partnership has brought to our community, boosting our confidence in our own capabilities and inspiring us to grow,” said Eleonor Atencio, President of TDRADDEVI.

NCIP R4A Regional Director Dr. Carlos Buasen, Jr. shared, “We are happy to have a continuously harmonious relationship with a company like Vena Energy, whose sustainability efforts aren't just focused on its business but as well as the people and their ancestral domains that are affected by it.”

This turnover represents a meaningful partnership between Vena Energy and the ICCs, grounded in shared growth and mutual respect. By integrating community-led development into its core operations, Vena Energy reinforces its commitment to honoring ancestral domain rights and   supporting self-determination.  This collaboration demonstrates how renewable energy can contribute not only to the national grid, but also to the long-term aspirations of the Filipino people, built on a foundation of genuine equity and care.