BDO Unibank Champions National Energy Security with Major Hydroelectric Investment
Amid ongoing global oil market instability, BDO Unibank, Inc., the Philippines' largest banking institution, has reaffirmed its commitment to national energy and water security through a landmark financing arrangement. The bank continues to champion sustainable infrastructure by partnering with innovative companies that drive community empowerment and contribute to long-term economic progress.
Historic Financing for Renewable Energy Transition
This year, BDO has arranged ₱75 billion (approximately US$1.29 billion) in financing for Prime Infrastructure Capital Inc. to develop two major pumped-storage hydroelectric power facilities in Rizal and Laguna. These strategic investments directly support the country's ambitious renewable energy targets of achieving 35% renewable energy generation by 2030 and 50% by 2040.
The financing package specifically covers the 600-megawatt Wawa pumped-storage facility and the 1,400-megawatt Pakil pumped-storage facility, which is poised to become one of the largest such facilities in Asia. BDO financed ₱20 billion of Olympia Violago Water & Power, Inc.'s ₱64-billion loan facility and ₱55 billion of Ahunan Power, Inc.'s ₱151-billion facility, both structured under 15-year terms.
Building a Flexible Energy Future
Scheduled to begin operations in 2030, these two facilities will deliver a combined 2,000 megawatts of long-duration energy storage capacity, sufficient to provide reliable power to approximately 3.2 million households nationwide. Pumped-storage facilities function as massive batteries, storing excess energy produced during off-peak hours and releasing it during periods of high demand.
"Our support for the Pakil and Wawa pumped-storage facilities reflects BDO's commitment to strengthening the Philippine power system and creating long-term sustainable value," stated BDO Unibank President and CEO Nestor V. Tan. "Large-scale energy storage is essential to building a stable and future-ready energy ecosystem that enables the country's clean-energy transition."
Enhancing Grid Stability and Community Development
Both projects have received Certificates of Energy Project of National Significance from the Department of Energy and are specifically designed to provide essential grid services that help manage renewable energy intermittency while supporting Luzon grid stability.
"Grid stability is foundational to economic growth," emphasized Guillaume Lucci, president and CEO of Prime Infra. "Projects like Pakil and Wawa require long-term commitment and strong financing partners. Working with a leading Philippine financial institution gives us confidence that we can deliver this complex infrastructure responsibly, on schedule, and aligned with the country's energy transition."
During peak construction phases, the projects are expected to generate up to 6,000 jobs, contributing significantly to local employment and skills development. Under Energy Regulation No. 194, a portion of electricity sales will fund livelihood programs, environmental initiatives, health services, and education in host communities.
Sustainable Finance Legacy
Since launching its Sustainable Finance Program in 2010, BDO has funded ₱1.04 trillion worth of projects across energy, infrastructure, water, transportation, and community development sectors. The bank has consistently served as anchor lender for syndicated term loan facilities across multiple industries, demonstrating its ongoing commitment to environmental responsibility and future-ready national development.
"By supporting these transformative projects, BDO underscores its continuing commitment to financing infrastructure that strengthens national energy and water security and enables a more sustainable energy future for the Philippines," concluded Tan.
BDO Pay: Enhancing Financial Management
In related developments, BDO Unibank has introduced an innovative solution that simplifies daily financial management through the equation: BDO Credit Card + BDO Pay = Power. This mobile application provides users with unprecedented control and convenience, allowing real-time management of BDO credit cards from any location.
The BDO Pay app enables users to instantly check outstanding balances, track transactions, view statements, and monitor payment due dates. Enhanced security features include the ability to lock and unlock cards as needed, providing protection against unauthorized transactions while maintaining accessibility.
Additional functionalities include card activation, e-statement access, dispute filing, card re-delivery requests, Cash Advance PIN applications, credit card application status checks, and supplementary card requests—all accessible directly through mobile devices.
The Scan to Pay feature allows secure transactions at participating merchants nationwide using QR codes, eliminating the need for physical cards or pre-loaded funds. Every eligible spend using linked BDO Credit Cards earns convertible points that can be exchanged for Cash Credit or transferred to BDO Rewards, SMAC, or SMAC Prestige programs for exclusive benefits.
By combining convenience with real-time control, BDO Pay transforms credit cards into smarter, more efficient spending tools perfectly suited for today's fast-moving, mobile-first lifestyle. The application is available for free download on the Apple App Store, Google Play Store, and Huawei AppGallery.
