AYALA-LED ACEN Corp. has secured a $150-million green term loan from Sumitomo Mitsui Banking Corp. Singapore Branch (SMBC) through its subsidiary ACEN Renewables International.
“This strategic financial move is in line with ACEN’s ongoing efforts to finance investments in renewable power projects across the region,” the energy company told the local bourse on Tuesday.
The loan has a tenure of five years and was arranged by SMBC, which serves as both lender and green loan coordinator, the company said.
Through the loan, the energy company seeks to expand into several key international markets, including Australia.
“This benchmark deal not only lends support to our momentum in expanding our international business, but is also a testament to the faith our banking partners place in our ability to execute on our vision,” ACEN Group Treasurer Cecile T. Cruzabra said.
“This facility is a strategic addition to ACEN’s portfolio of Green Financings aimed at fulfilling our contribution to achieving Net Zero commitments,” she added.
Zia Azeez, head of renewables, utilities, and infrastructure sector of Sector Banking Asia, said: “This financing is a continuation of our partnership with ACEN across multiple renewable projects in the region, commencing with their first overseas project in Indonesia some years back.”
“We look forward to continuing this journey with ACEN as they march towards 20 GW (gigawatts) of green power by 2030,” she added.
To date, ACEN has around 4,800 megawatts of renewable energy capacity in operations and under construction across its key markets in the Philippines, Australia, Vietnam, India, and Indonesia. — Sheldeen Joy Talavera