BDO Unibank Inc. (BDO) is making massive strides in sustainable finance, demonstrating a strong commitment to inclusive growth, environmental stewardship, and long-term economic resilience. Since launching its Sustainable Finance Program in 2010, BDO has already channeled a staggering P1.04 trillion into impactful sustainable projects. These initiatives span critical sectors like energy, infrastructure, water, transportation, and community development, truly laying the groundwork for a greener future.
Championing Landmark Renewable Energy Projects
BDO isn’t just talking the talk; they’re walking the walk by actively partnering with key players in the renewable energy landscape.
One notable collaboration saw BDO serve as the anchor lender for San Miguel Global Power Holdings Corporation’s (SMGP) Battery Energy Storage System (BESS). This isn’t just any BESS; it’s one of the largest integrated systems globally! SMGP’s 32 BESS facilities across the Philippines offer a combined capacity of 1,000 MWh. This groundbreaking technology is crucial for enhancing power quality and stability by tackling the intermittency often associated with renewable energy sources. This directly supports the Philippines’ ambitious goal of generating 35% of its energy from renewable sources by 2030.
BDO also provided crucial project financing for Citicore Renewable Energy Corporation’s (CREC) Citicore Solar Batangas 1 project, which is set to become the largest solar plant in Batangas. Comprising two solar plants in Tuy, Batangas, this project will boast a peak generating capacity of 197 MW once operational, capable of powering approximately 158,000 households per year. What’s more, CREC is pioneering the AgroSolar initiative in the Philippines, enabling solar energy generation to coexist harmoniously with agriculture – a truly innovative approach to sustainable land use.
In another monumental move, BDO recently financed MTerra Solar, poised to become the world’s largest integrated solar and battery storage facility. This colossal project spans over 3,500 hectares across Nueva Ecija and Bulacan, featuring a 3,500 MWp solar farm with a massive 4,500 MWh battery storage system. Once operational, it’s expected to deliver clean energy to approximately 2.4 million households. BDO’s commitment is significant, as it’s the biggest lender to the ₱150 billion project finance facility, providing the largest commitment among a six-bank syndicate. BDO’s expertise in large-scale sustainable energy projects is further highlighted by its roles as Facility Agent and Security Trustee (through BDO Trust and Investments Group), Sole Mandated Lead Arranger and Bookrunner (through BDO Capital), and main account bank for MTerra Solar.
Beyond Financing: A Holistic Approach to Sustainability
“Championing sustainable infrastructure is more than financing. It is about laying the groundwork for a sustainable and climate-resilient future,” stated Charles M. Rodriguez, BDO Executive Vice President and Head of the Institutional Banking Group. “At BDO, we take pride in partnering with companies that drive innovation, uplift communities and fuel national progress.”
BDO’s commitment extends to supporting green buildings, solar rooftop installations, and resource-efficient infrastructure. These initiatives help clients significantly reduce energy consumption and emissions, while simultaneously boosting their operational performance.
During the Department of Energy’s Philippine Conference on Energy Efficiency and Conservation, Michelle Patricia Cillan, First Vice President and Head of the ESG Desk for Institutional Banking Group of BDO, emphasized a key insight: “Energy efficiency is clearly a pathway to a greener portfolio. While there are challenges to be hurdled, having the right information and understanding our clients’ business models can unlock opportunities for financing.” This highlights BDO’s proactive approach to identifying and enabling green investment opportunities.
BDO’s sustainable financing activities are firmly anchored on its Board-approved Sustainable Finance Framework. This framework stands as the most comprehensive in the country for Green, Blue, Social, and Gender financing, boasting 29 eligible categories certified by Morningstar Sustainalytics. This robust framework underscores BDO’s dedication to transparency, accountability, and impactful sustainable investments.
What are your thoughts on BDO’s commitment to sustainable finance and its impact on the Philippines’ energy future? Share your insights in the comments below!
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