Greenergy for Global Incorporation (GGI) and Greentech Solar Energy Incorporation (GSEI), two subsidiaries of MGeen Renewable Energy Incorporation (MGreen), have secured a total of PHP2.825 billion in loans from Security Bank to fund their solar power projects in the Philippines.
These projects, with a combined capacity of 67.75 MWac, are expected to commence operations by the first quarter of 2025. GGI has received PHP2.034 billion to finance its 49 MWac solar project in Cordon, Isabela, meanwhile GSEI has raised PHP791 million for its 18.75 MWac solar plant in Bongabon, Nueva Ecija. These projects will boost the solar power capacity of the companies and will also contribute to the country’s renewable energy goals.
