Press Releases

• Developed and constructed by ib vogt, the plant is among Mindanao’s most impactful clean energy projects
• Expected to power over 82,000 households with clean electricity
• Avoiding more than 66,000 tonnes of CO₂ emissions each year
• The first to draw on an US$80 million joint financing facility from Singapore’s Pentagreen Capital and British International Investment

Singapore/South Cotabato, Philippines, 24 July 2026 – The Tantangan Solar Power Plant, developed and constructed by leading solar developer ib vogt, financed by Pentagreen Capital’s Green Investments Partnership under Singapore’s Financing Asia’s Transition Partnership (“FAST-P”), together with British International Investment (“BII”), held its energisation ceremony yesterday, marking the start of commercial electricity generation less than one year after the project’s groundbreaking.

Located in South Cotabato, Tantangan Solar is one of Mindanao’s most significant renewable energy developments to date, and a key national priority project under the Philippines’ clean energy agenda. At 99 megawatt-peak (MWp), the plant is ib vogt’s second solar project in Mindanao. By integrating solar generation with battery storage, it delivers dispatchable, near-baseload clean energy to a region where electricity demand structurally outstrips supply and grid reliability remains a persistent constraint. Once fully operational, it is expected to generate more than 150 GWh of clean electricity annually – enough to power over 82,000 households – while avoiding more than 66,000 tonnes of CO₂ emissions each year.

The project is the first to draw on the joint US$80 million Development and Construction Facility established by BII and Pentagreen Capital. The facility’s mezzanine loan was designed to complement and unlock project finance debt provided by commercial lenders, filling the subordinated layer of the capital stack and enabling ib vogt to complete development and construction.

Marat Zapparov, Chief Executive Officer of Pentagreen Capital said: “Tantangan is a strong example of how fit-for-purpose credit capital can generate impact fast in ASEAN, unlocking the construction of high-quality renewable energy projects in the region. By providing subordinated financing alongside BII, we are delighted to support ib vogt in bringing this project from groundbreaking to energisation in under a year. This type of financing can help bridge the funding gap for high-quality developers in ASEAN while accelerating the expansion of clean energy capacity across the region”.

The energisation ceremony brought together key government representatives, financial partners and project stakeholders, underscoring a shared commitment to a resilient and sustainable energy future for Mindanao.

Beyond electricity generation, Tantangan Solar includes community programmes developed in collaboration with local stakeholders in South Cotabato, designed to deliver lasting and inclusive benefits for the surrounding area.

Rohit Anand, Managing Director and Head of Asia Infrastructure and Climate Direct Investments at BII said: “The energisation of Tantangan is an important milestone that demonstrates ib vogt’s ability to deliver high-quality renewable energy projects at scale. As the UK’s development finance institution, we focus on supporting partnerships that help mobilise capital into clean energy infrastructure and accelerate the energy transition across Southeast Asia, as part of our new five-year strategy”.

David Ludwig, Chief Executive Officer of ib vogt APAC said: “Energising this project is a special milestone for ib vogt: it is our first solar-and storage hybrid in Southeast Asia and the first of more than 500 MW of hybrid capacity we expect to have in operation and construction across the Philippines by the end of 2026. Reaching this point in Mindanao carries particular meaning for our team, because it is where we energised our first project in Asia. We will continue to focus on accelerating the rollout of our pipeline across the Philippines and Southeast Asia and thank our partners and stakeholders that have contributed to and enabled this success”.

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