The Bank of the Philippine Islands (BPI) has extended a P6.1-billion project finance facility to support the development of Aboitiz Power Corp.’s first wind energy venture, a 58.5-megawatt onshore wind farm in Libmanan, Camarines Sur.

The financing was granted to Cornerstone Energy Development Inc. (CEDI), a renewable energy developer under Aboitiz Renewables Inc. The funding will help build the Camarines Sur Wind Power Project, which is expected to contribute additional clean electricity to the national grid once operational.

Expanding Phl’s RE capacity

The project is seen as part of broader efforts to expand the Philippines’ renewable energy capacity and support the Department of Energy’s goal of increasing the share of cleaner power sources in the country’s energy mix.

“This project reflects the role we envision for BPI in accelerating the Philippines’ transition to a more sustainable energy landscape. Our collaboration with CEDI and the Aboitiz Group underscores our commitment to financing projects that deliver long-term environmental, social, and economic impact. We are proud to support initiatives for clean energy development,” said Louie Cruz, Institutional Banking head at BPI.

Seven communities in Libmanan town

Construction of the wind power facility began in 2025 and is expected to bring economic activity to nearby areas. Seven communities in the municipality of Libmanan are anticipated to benefit through job creation, infrastructure upgrades, and community development programs tied to the project.

Once completed, the wind farm is projected to help lower greenhouse gas emissions by supplying renewable energy to the power grid, supporting efforts to build a more sustainable energy sector.

Aboitiz Renewables president Jimmy Villaroman said the project also highlights the continued collaboration between the Aboitiz Group and BPI.