Solar development company ib vogt has secured 4.49bn pesos ($80m) in green project financing from HSBC for its Tantangan solar power project in Mindanao’s South Cotabato province in the Philippines.
The 99 megawatts peak (MWp) solar photovoltaic (PV) plant will provide affordable clean energy and support the country’s transition towards sustainable sources.
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The project is ib vogt’s second solar development in the Mindanao region.
Construction of the plant began in the first quarter (Q1) of 2025, with commissioning expected by Q2 2026.
The Tantangan facility will generate more than 150 gigawatt hours (GWh) of renewable electricity each year, sufficient to meet the energy needs of more than 82,000 households while reducing carbon dioxide emissions by more than 66,000t annually.
ib vogt APAC CEO David Ludwig stated: “This project is especially meaningful to us, as it is our second power plant in Mindanao supporting the local community and the regional economy.
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By GlobalData“We are very happy about our partnership with HSBC to jointly enable this project and make this contribution to the energy transition in the Philippines.”
The Tantangan project contributes to ib vogt’s extensive development pipeline within the Philippines. The company has more than 1,000MWp active development across various locations in the country.
The investment signifies the company’s long-term dedication to supporting community growth through green job creation and bankable climate solutions within the Philippines.
In February 2024, Spanish energy company Iberdrola appointed ib vogt to undertake the construction of the 245MW Fenix solar project in Italy.
