ACEN Corp. has tapped a bank for P20 billion earmarked for general corporate and for its renewable energy projects but declined to identify the lender.
In a statement, the company merely said the loan is a 10-year facility and disclosed no other details.
Prior to this, ACEN secured a P5 billion term loan from the Metropolitan Bank and Trust Company in October.
ACEN manages a 4,400-megawatt portfolio of renewables 38 percent of which, or 1,700 MW, are in operation.
Its operating capacity is expected to grow by 1,000 MW in the next few months.
The ACEN group, targets to own 20,000 MW worth of renewable energy capacity by 2030.
It has projects in the Philippines, Australia, Vietnam, Lao People’s Democratic Republic, India, Indonesia as well as in the United States and Taiwan.
