Renewable energy firm Solar Philippines Tarlac Corp. (Solar Tarlac) is raising as much as P4.15 billion from a proposed offering of “green” bonds, which obtained a double-A plus credit rating from local debt watchdog Philippine Rating Services Corp. (PhilRatings).
Proceeds from the bond float will be used to refinance a P2.22-billion loan used for the construction of Solar Tarlac’s now-operating 100-megawatt solar farm in Concepcion, Tarlac, and the expansion of the solar power plant capacity to 150 MW.
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