50MW CAPANTOLAN SOLAR PROJECT ACHIEVES FINANCIAL CLOSE
1 July 2026
50MW CAPANTOLAN SOLAR PROJECT ACHIEVES FINANCIAL CLOSE
GEA-4 awarded project funded by Gresham House funds and financed by Philippine National Bank, targets commercial operations by December 2026
MANILA, PHILIPPINES — The 50MW Capantolan Solar Project has reached financial close, with equity funding provided by Gresham House funds and project debt financing arranged by Philippine National Bank (PNB). The project is being developed by Pacific Impact Development, an internationally active renewable energy developer with a growing pipeline across Southeast Asia. PNB Capital is the Mandated Lead Arranger, while PNB – Trust Banking Group is the Facility Agent and Security Trustee for the transaction.
The project was awarded under the Department of Energy’s Green Energy Auction Program Round 4 (GEA-4), which provides a contracted off-take for the long-term sale of clean energy to the Philippine grid.
Construction is already underway. EPC contractor CEEC (ZEDPI) has fully mobilised on site, with equipment delivered and civil works in progress. Commercial operations are targeted for December 2026.
Project Impact at a Glance
- 79 GWh of clean energy generated annually
- Approximately 41,000 tonnes of CO₂ emissions avoided per year
- Equivalent to powering approximately 26,000 Filipino homes
- Contracted energy supply to the Philippine national grid under GEA-4
“Financial close on the Capantolan Solar Project represents a pivotal milestone for Pacific Impact and for the Philippines’ renewable energy sector. This outcome reflects the quality of the project, the strength of our partnerships with Gresham House and PNB, and the credibility of the GEA-4 framework in attracting serious international capital. With construction already progressing on site, we are focused on delivering a project that contributes to the Philippines’ clean energy future.”
James Timko, Managing Director, Pacific Impact Development
About Pacific Impact Development
Pacific Impact Development is a Southeast Asia-focused infrastructure and renewable energy developer committed to delivering clean energy infrastructure across the region. The company develops utility-scale renewable energy projects, working with leading institutional investors, lenders, and government counterparties to advance the energy transition in high-growth markets.
About Gresham House
Gresham House is a specialist alternative asset manager with €12.3 billion of assets under management (AUM) and leading market positions in natural capital and energy transition infrastructure.
www.greshamhouse.com
About Philippine National Bank (PNB)
Philippine National Bank is one of the Philippines’ largest private universal banks, with a strong track record in project finance, corporate banking, and infrastructure lending. PNB plays an active role in supporting the country’s economic development and energy transition goals.
About PNB Capital and Investment Corporation (PNB Capital)
PNB Capital and Investment Corporation is the investment house subsidiary of Philippine National Bank. It provides a wide range of investment banking services, including debt and equity underwriting, syndicated loans, project finance, and financial advisory.
Media Contact
Pacific Impact Development
Email: admin@pacificimpactdev.com