Philippines-based Citicore Renewable Energy Corporation has secured a PHP 4.4 billion(~ $78.6 million) project finance loan from Security Bank Corporation and Security Bank Capital Investment Corporation to support the development of its 125 MW Citicore Solar Pangasinan project in Sta. Barbara. The project, which is currently under construction, holds a Certificate of Energy Project of National Significance from the Department of Energy, allowing for expedited permitting and development. According to Citicore Renewable Energy Corporation, this solar facility is one of its top-priority projects under its plan to develop 5 GW of capacity within five years. Security Bank stated that the financing contributes to national energy development and socioeconomic growth. The Sta. Barbara solar project is part of a broader portfolio in Pangasinan, which includes Citicore Solar Pangasinan 2 and Citicore Wind Pangasinan, both of which secured 20-year offtake contracts under GEAP-2 in 2023.