ib vogt Secures PHP 4.49 Billion in Green Project Financing from HSBC for 99 MWp Solar Plant in Philippines
International solar developer ib vogt has achieved financial close for its 99 MWp Tantangan solar project in South Cotabato, Philippines, securing PHP 4.49 billion (USD 80 million) in green financing from HSBC.
July 18, 2025. By Mrinmoy Dey
Located in South Cotabato, the 99 MWp solar PV plant will play a key role in delivering affordable, renewable energy to the region and advancing the Philippines’ broader clean energy transition, the company said in a statement.
It further added that the project marks ib vogt’s second solar development in Mindanao, and has commenced construction in Q1 2025, with commissioning targeted for Q2 2026. The power plant will generate over 150 GWh of clean electricity annually, enough to power more than 82,000 households, and reduce over 66,000 tonnes of CO₂ emissions per year.
This is the latest collaboration between ib vogt and a global banking partner focused on driving climate-positive investment in Asia. HSBC’s green loan facility provides the critical momentum needed to bring this landmark project to life, accelerating progress on the ground and sending a strong signal to the region’s energy market.
Commenting on the development, David Ludwig, CEO of ib vogt APAC 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. 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.”
This project is part of ib vogt’s growing development pipeline in the Philippines, with over 1,000 MWp in active development across the country, the company stated. ib vogt has built or has in construction more than 4.7 GW of PV power plants globally with a project pipeline of more than 51 GWp with 10 GW in Asia.
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