ib vogt APAC has achieved financial close for Project Luca, a 99 MWp solar photovoltaic (PV) and battery energy storage system (BESS) project located in Barangay Luca, Ajuy, Iloilo Province, Philippines. The company signed an Omnibus Loan and Security Agreement (OLSA) for a PHP4.5 billion (approximately USD75 million) senior debt facility provided by Rizal Commercial Banking Corporation (RCBC), with RCBC Capital Corporation serving as lead arranger.
The project combines 99 MWp of solar generation capacity with a 4 MW/16 MWh battery energy storage system, making it ib vogt’s first hybrid solar-plus-storage development in the Visayas region. Early engineering, procurement and construction (EPC) activities commenced in early 2026, while commissioning is scheduled for the second quarter of 2027. Once operational, the facility is expected to generate more than 160 GWh of renewable electricity annually, sufficient to supply over 85,000 households and reduce carbon dioxide emissions by more than 70,000 tonnes per year.
The integrated battery storage system will improve grid stability and increase the dispatchability of renewable energy across the Visayas grid. The project was awarded capacity under the Philippines’ Green Energy Auction (GEA) programme, and its successful financing demonstrates the growing bankability of hybrid renewable energy projects in the country.
Project Luca forms part of ib vogt’s Philippine development pipeline of more than 1,000 MWp, highlighting the company’s commitment to expanding renewable energy capacity in Southeast Asia. The project also supports the Philippines’ broader energy transition objectives by increasing renewable generation and strengthening grid reliability through energy storage integration.