BDO Unibank has strengthened its support for the Philippines’ energy transition by providing major financing for the expansion of the country’s natural gas infrastructure. The bank participated in a PHP50 billion financing package that enabled Prime Infra to acquire the gas assets of First Gen Corporation, a transaction positioned as a key step in enhancing energy security and supporting cleaner power generation.
Under the deal, BDO financed 60 per cent of the total loan facility, with BDO Capital & Investment Corporation acting as Mandated Lead Arranger, while BDO Trust Investments Group served as Facility Agent and Collateral Trustee. Bank executives said the transaction reflects BDO’s strategy of supporting high-impact infrastructure projects that contribute to national development and the evolution of the Philippine energy mix.
The acquisition includes the Clean Energy Complex in Batangas, which contributes more than 2,000 MW of capacity and plays a central role in the country’s transition strategy. The project aligns with government targets to raise the renewable energy share to 35 per cent by 2030 and 50 per cent by 2040 under the Philippine Energy Plan 2023–2050, with natural gas positioned as a transition fuel to support grid reliability while renewable capacity scales up.
