ACEN Corp., the renewable energy arm of the Ayala Group, said one of its subsidiaries, ACEN Renewables International Pte. Ltd., has secured a five-year syndicated green term loan and revolving credit facility totaling USD150 million.
The transaction, facilitated by a consortium of leading international financial institutions, underscores the robust confidence in ACEN’s expanding renewable energy footprint across the Asia Pacific region.
CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd., the structuring bank and arranger, respectively, have collaborated with prominent financial institutions that include the Singapore branches of CTBC Bank Co., Ltd., Malayan Banking Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, and Mega International Commercial Bank Co., Ltd.
The loan proceeds will help ACEN rapidly grow in the region, where it currently manages approximately 4.8 gigaWatts of attributable renewables capacity through operational projects and those under construction. ACEN has also secured contracts and competitive tenders for over 1 GW, surpassing its initial goal of achieving 5 GW by 2025.
Cecile Cruzabra, ACEN’s group treasurer, said international bank participation in the transaction highlights their confidence in the listed company’s leadership within the renewable energy sector and support for its expanding international pipeline. She expressed gratitude to the lenders for their trust as ACEN strategically advances towards its ambitious target of 20 GW by 2030.
Mike Albotra, senior vice president of Institutional Banking Group at CTBC Bank (Philippines) Corp., said the institution’s belief in ACEN’s vision and commitment to sustainability. He noted that CTBC Bank’s introduction of ACEN to Taiwanese investors paved the way for this milestone transaction, reflecting shared goals in combating climate change.
Sunny Sng, head of Corporate Banking 1 at CTBC Singapore branch, said the oversubscription of the USD100 million syndicated 5-year Green Loan Facility, which closed at USD150 million. Sng emphasized the collective commitment of the bank syndicate, comprising Maybank, Land Bank of Taiwan, Chang Hwa Commercial Bank, and Mega International Commercial Bank, to support ACEN’s international expansion and its goal of achieving 20 GW of renewable capacity by 2030.
This achievement marks a significant step forward for ACEN as it continues to expand its renewable energy portfolio globally, contributing actively to sustainable development goals and reinforcing its position as a leader in the renewable energy sector.
