BANK of the Philippine Islands (BPI) has approved a P6.1-billion project finance loan to renewable energy developer Cornerstone Energy Development, Inc. (CEDI), a subsidiary of Aboitiz Renewables, Inc.
The loan will finance Aboitiz Power Corp.’s first wind energy project, a 58.5-megawatt (MW) onshore wind power facility in Libmanan, Camarines Sur, BPI said in a press release on Thursday.
“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,” BPI Institutional Banking Head Luis Geminiano E. Cruz said.
Once operational, the Camarines Sur Wind Power Project is expected to supply electricity to the grid and help reduce greenhouse gas emissions.
Construction of the project started last year.
The initiative is aligned with the sustainability goals of both BPI and CEDI, which aim to expand investments in renewable energy projects.
BPI said in May 2025 that it was on track to reach P1 trillion in sustainability-linked loans by this year.
The project is also expected to benefit seven communities in the municipality of Libmanan, Camarines Sur, through employment opportunities, infrastructure improvements, and community programs.
“Our continued partnership with BPI is proof that transformation does not happen in isolation. It happens when the right partners show up — consistently, reliably, and with conviction,” Aboitiz Renewables, Inc. President James D. Villaroman said. “Together, we are showing that progress and sustainability can go hand in hand — driving inclusive growth and helping build a stronger Philippines.”
BPI’s net income rose by 7.4% year on year to P66.62 billion in 2025 on sustained revenues despite higher expenses and provisions.
Shares in BPI closed at P103 apiece on Tuesday, up by P1.40 or 1.38% from Monday’s close. — Aaron Michael C. Sy
