KEPCO subsidiary gets BDO funding boost
CEBU, Philippines — Cebu-based power generator KEPCO SPC Power Corporation has committed to expanding its power generation capacity to meet the increasing demand for electricity in the coming years.
To help support this growth, BDO Unibank Inc. (BDO) is extending financial assistance to KSPC — a move expected to benefit businesses, households, and communities across the region.
KSPC is a subsidiary of Korea Electric Power Corporation (KEPCO), South Korea’s largest electric utility company.
In the Philippines, KSPC has played a major role in maintaining a stable power supply in the Visayas. The company contributes 17 percent of Cebu’s total installed power capacity and generates 20 percent of the island’s electricity. Its services also extend to nearby islands such as Bohol, Panay, Negros, and Leyte, helping local businesses expand without experiencing power interruptions.
BDO has been a long-time financial partner of KSPC since 2017. The bank has supported KSPC in managing its finances and has provided tailored financial solutions for its various projects.
“This partnership made it easier for KSPC to secure contracts and procure the resources needed to keep its power plant running smoothly,” said KSPC President Jeon Yong Su.
KSPC also enhanced its cash management system with BDO’s help, which led to improved profitability.
“When we needed to secure multiple power contracts last year, BDO acted quickly and supported us with credit lines and standby letters of credit,” added Yong Su.
Charles M. Rodriguez, Executive Vice President of BDO, emphasized the importance of energy to economic development. “At BDO, we support projects that power industries, uplift communities, and drive economic growth,” he said.
KSPC entered the Philippine market in 2005 and began construction of its power plant in 2007. Since commencing operations in 2011, the company has earned a cumulative net income of P26 billion, maintaining a solid profit margin of 24.96 percent.
Yong Su reaffirmed KSPC’s strong commitment to participating in the carbon credit market and embracing new technologies to support the country’s transition toward a cleaner, low-carbon energy future.
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