Philippines headquartered Citicore Renewable Energy Corporation (CREC), a renewable energy developer, has secured a PHP 3.975 billion loan from BPI. The financing supported the 113 MW Citicore Solar Pangasinan 2 project in Binalonan. Senior executives from CREC and BPI signed the agreement. The project held a national significance certificate from the energy department. This certification enabled faster permitting for its planned year-end completion. CS Pangasinan 2 formed part of CREC’s awarded capacities under GEA-2. The auction granted a 20-year offtake contract with the Philippine Government. The project was one of three CREC developments in Pangasinan province. The others included CS Pangasinan in Sta. Barbara and Citicore Wind Pangasinan. BPI Capital served as the exclusive lead arranger for the loan facility.