Prime Infrastructure secures P273.5 billion financing for hydro projects

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

March 13, 2026 | 12:00am

MANILA, Philippines — Razon-led Prime Infrastructure Capital Inc. has secured P273.47 billion in financing deals from local and foreign lenders to fund the construction of two huge hydropower projects in Laguna and Rizal.

Prime Infra recently signed a P214.87-billion syndicated loan with Bank of the Philippine Islands, BDO Unibank Inc., China Banking Corp., Land Bank of the Philippines, Metropolitan Bank & Trust Co., Philippine National Bank, Security Bank Corp. and Union Bank of the Philippines.

The local financing deal will be classified as a green loan with the assistance of MUFG Bank Ltd.

Complementing this was a P58.6-billion dual-currency credit facility with MUFG Bank, Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corp.

“This historic financing reflects the confidence of local and international banks in Prime Infra’s capability to deliver large-scale, critical infrastructure,” Prime Infra president and CEO Guillaume Lucci said.

“Our pumped storage hydropower (PSH) projects demand significant capital, and we are fortunate to have the trust of our banking partners,” Lucci said.

The financing will support the ongoing development of the 1,400-megawatt Pakil PSH facility in Laguna and the 600-MW Wawa PSH project in Rizal.

Certified as energy projects of national significance, the PSH facilities are expected to be completed by 2030.

“These agreements will accelerate critical infrastructure investments and strengthen energy security and reliability, which are the foundations of the Philippines’ sustained economic growth,” Lucci added.

Last week, Prime Infra signed a definitive agreement with Lopez-led First Gen Corp. for the latter’s planned investment in the two PSH projects.

First Gen subsidiary FGEN Aqua Power Holdings Inc. intends to acquire a 33-percent interest in Prime Infra unit Prime Hydropower Energy Inc., the company leading the development of the hydro projects.

First Gen and Prime Infra expect to complete the deal, announced last month, later this year.