San Miguel Power has invested P11.4 billion to refinance existing debt and fund new renewable energy projects, marking a major step in its push toward sustainable power generation.
The company announced that the capital will be used to restructure liabilities while accelerating the development of solar, wind, and other clean energy sources. This dual-purpose investment is aimed at strengthening its financial position and expanding its renewable portfolio in line with the Philippines' shift to greener energy.
"This funding allows us to optimize our debt profile and double down on our commitment to renewable energy," a company spokesperson said. "We are positioning ourselves for long-term growth while contributing to the country's energy transition."
The move comes as the Philippine energy sector faces increasing pressure to adopt cleaner technologies and reduce reliance on fossil fuels. San Miguel Power's investment is expected to improve cash flow and support the construction of several renewable projects in the pipeline.
Industry analysts view this as a strategic play that balances financial health with environmental goals. By refinancing debt at more favorable terms, the company frees up capital for green initiatives without overleveraging its balance sheet.
Details on specific projects and the exact debt instruments involved were not disclosed, but the company confirmed that the funds would be deployed over the next 12 to 18 months.