HSBC lends debt financing for 160 MW wind project in Ilocos Norte
Date
March 18, 2022
Type
Projects
Subtype
Project in planning
Countries
Philippines
Subsectors
Onshore Wind
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Philippine-based renewable energy developer AC Energy Corp. has secured a sustainable commercial letter of credit (LC) from HSBC Philippines to support the development of the 160 MW Balaoi and Caunayan wind farm project located in Pagudpud, Ilocos Norte.
The project represents about PhP11.4 billion (US$237.89 million) of investment. It will consist of 32 wind turbines that are expected to be operational by 2023.
Once commissioned, about 504 GWh of energy per year will be produced from the plant.
