Security Bank Corp. has expanded its renewable energy financing portfolio after serving as the sole lender for the refinancing of the 17.4-megawatt Solana Solar Beta Inc. (SSBI) solar power project in Hermosa, Bataan, which supplies electricity to Peninsula Electric Cooperative Inc. (PENELCO).

The project, part of CN Green Roof Asia’s renewable energy platform, is expected to generate about 35.5 gigawatt-hours of electricity annually and provide 10 MW of contracted generation capacity under a 20-year power supply agreement with PENELCO.

The transaction marks Security Bank’s first partnership with Climate Fund Managers, a climate-focused blended finance investment manager, and Norfund, Norway’s development finance institution. Security Bank provided the refinancing facility, while Security Bank Capital Investment Corp. acted as arranger. The Omnibus Loan and Security Agreement was signed on May 26, with loan disbursement completed on June 25.

“Electric cooperatives play an important role in delivering electricity to communities across the country,” said Yvonne Marcelo, executive vice president and head of Security Bank’s Corporate Banking Group.

“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,” she added.

Security Bank said the deal is significant because renewable energy projects serving electric cooperatives have historically attracted limited participation from local banks. PENELCO, the project’s offtaker, has a peak demand of about 148 MW and serves multiple municipalities and barangays in Bataan.

The refinancing adds to Security Bank’s growing renewable energy portfolio. The bank has participated in the financing of 24 renewable energy projects nationwide with a combined installed capacity of 4.30 gigawatts. These projects form part of its broader sustainable finance portfolio, which reached P116.95 billion in cumulative disbursements as of May 2026.

The development comes as the bank recently waived online transaction fees for all customers, extending a benefit previously reserved for Gold Circle, Wealth, Corporate and Business Banking clients. The move forms part of the bank’s BetterBanking initiative and comes amid a broader industry push to make digital banking more accessible and affordable.