ACEN Corp. said Wednesday that its unit, ACEN Renewables International Pte. Ltd, has secured an AUD75 million green term loan with the Hongkong and Shanghai Banking Corp. Ltd.
The Australia dollar-denominated green loan underscores ACEN’s strategic move to bolster its renewable energy initiatives in Australia, an emerging key market for the Ayala Group’s renewable energy arm.
The green term loan will deliver capital needed by ACEN to push renewable energy projects in Australia that is not only the company’s largest market outside of the Philippines, but also critical to its goal to expand capacity to 20 gigaWatts by 2030.
“This Australian dollar green term loan of ACRI is a significant stepping stone in our funding journey—supporting our expansion plans in Australia, as well as helping manage our foreign currency risk in Australian dollar,” said Cecile Cruzabra, ACEN Treasurer.
ACEN Australia, the platform representing ACEN’s renewable energy assets in the country, is set to play a vital role in the company’s renewables expansion in the region.
With over 1 GW capacity of renewable energy generation currently in construction and operation, and an additional 8 GW capacity in development, ACEN Australia’s portfolio boasts a diverse mix of solar, wind, battery, and pumped hydro projects across the country.
