Arayat solar farm phase 2
Sector: Automotive • Location: Philippines
Source: World Bank Group
The project involves the design, construction, operation and maintenance of the 30MWac (43.7MWdc) second phase of Arayat solar farm located in Pampanga province of the Philippines. The 50MWac (72MWdc) phase 1 of the project was constructed in June 2021 and reached its full capacity in March 2022. Greencore Power Solutions 3 Inc. is the special purpose vehicle of the phase 2 solar project. Sponsor
- Status
- Prospective
- Sector
- Automotive, Commercial, Power Generation (CCGT), Raw Materials, Solar, Residential, Government
- Location
- Philippines
- Updated
- 22 Jul 2026
- Source
- World Bank Group
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Project Information
Participants
Sponsoring Agency |
Status
Original status | active |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | The project involves the design, construction, operation and maintenance of the 30MWac (43.7MWdc) second phase of Arayat solar farm located in Pampanga province of the Philippines. The 50MWac (72MWdc) phase 1 of the project was constructed in June 2021 and reached its full capacity in March 2022. Greencore Power Solutions 3 Inc. is the special purpose vehicle of the phase 2 solar project. Sponsors are Citicore Solar Energy (50%), ACEN Corp (45%), and ACEN's wholly-owned subsidiary ACE Endevor (5%). The SPV received a P2.3 billion ($43.8 million) loan from ACEN to fully finance the second phase, which is scheduled for commercial operations in February 2023. Greencore secured the loan with a real estate mortgage over its real assets, a pledge over its shares, and the project's cash flows. Financial close was achieved on 1 June, 2022. Realfin https://www.philstar.com/business/2022/05/27/2183921/acen-extends-p23-billion-loan-fund-pampanga-solar-farm |
Original sector | Energy |
Budget |
Location
Country | Philippines |
Source
Source | World Bank Group |
URL |
More Details
Record type | Project |
Sector | Automotive, Commercial, Power Generation (CCGT), Raw Materials, Solar, Residential, Government |
Article published date | 2024-06-06 |
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