PROJECT

Projects

Summary of Collaboration or Co-Development Project

Project Number

609516

Sponsor

Bago Negros Energy Corporation,SERMSANG POWER CORPORATION PUBLIC COMPANY LIMITED

Date SCCP Disclosed

May 29, 2026

Country

Philippines

Region

East Asia and the Pacific

Last Updated Date

May 30, 2026

Industry

Infrastructure

Sector

V-B - Renewable Energy Generation

Department

Regional Industry - INF Asia & Pac

Project Description

Sermsang, a growing Thailand-based renewable energy (RE) player, currently owns and operates 282 equity MW of RE projects across Japan, Thailand, Vietnam, and Mongolia. The Company is now seeking to expand its presence in the Southeast Asia region. In this regard, Phase 1 of this collaboration between IFC and Sermsang aims to: (1) support Sermsang’s expansion initiatives in the region, commencing with a market entry strategy assessment for the Philippines, and (2) optimize its existing Thailand portfolio. Following completion of Phase 1, IFC and Sermsang will determine the scope and workplan for Phase 2.

E & S Information

IFC funding will support the development of a market entry strategy for the Philippines, anchored by a study to be conducted by an external consultant. Key E&S risk is that the resulting potential project pipeline that will result from the strategy development may include greenfield and brownfield assets that may not be able to comply with IFC Performance Standards (PSs) on biodiversity, land acquisition, indigenous peoples, supply chain and other issues rendering some ineligible for IFC financing. To address this, if the potential pipeline is identified, IFC will conduct early E&S screening to identify E&S risks and exclude projects that will not be able to meet the requirements of PSs. For viable opportunities, detailed due diligence and Environmental and Social Action Plans (ESAPs) will be conducted.