BPI and Aboitiz Renewables forge P6.1 billion partnership for sustainable wind power

The Bank of the Philippine Islands (BPI) has strengthened its leadership in sustainable finance by extending a Php 6.1 billion project finance facility to renewable energy developer Cornerstone Energy Development, Inc. (CEDI), a subsidiary of Aboitiz Renewables, Inc.

The partnership will fund Aboitiz Power Corporation’s first-ever wind energy venture, a 58.5-MW onshore wind power project in Libmanan, Camarines Sur, helping expand the country’s renewable energy capacity to advance its clean energy ambitions.

“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,” said Louie Cruz, Institutional Banking Head at BPI.

The Camarines Sur Wind Power Project will help bolster the nation’s renewable energy share and contribute to meeting the Department of Energy’s targets for a cleaner power mix. Once operational, the facility is expected to supply clean electricity to the grid and reduce greenhouse gas emissions, further aligning with BPI’s and CEDI’s shared mission of advancing responsible and resilient energy solutions. The project is also expected to benefit seven communities in the Municipality of Libmanan, Camarines Sur, supporting local development 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,” said Jimmy Villaroman, President of Aboitiz Renewables Inc. “Together, we are showing that progress and sustainability can go hand in hand—driving inclusive growth and helping build a stronger Philippines.”

The ceremonial signing of the agreement gathered top executives from BPI, CEDI, and AboitizPower—further solidifying their long-standing partnership in driving transformative projects that contribute to national development.

Construction of the project commenced in 2025.