Metropolitan Bank & Trust Co. (Metrobank), one of the country’s largest, has signed a P5 billion loan with ACEN, the listed energy platform of the Ayala group, to fund renewable energy expansion projects across the country.
Metrobank sees the ACEN loan as key to achieving a secure, reliable, and affordable electricity supply in the Philippines and within the region.
“ACEN plays an important role in promoting renewable energy within the country and the Asia Pacific region. We are honored to be a partner of ACEN in pursuing their energy projects that are key to building a more sustainable future for our planet and the generations to come,” said Metrobank Institutional Banking Sector head Mylene Caparas.
ACEN chief finance officer Cora Dizon affirmed the significance of the loan, “This collaboration with Metrobank is a critical catalyst for our ambitious expansion plans and the execution of pivotal projects as we steadfastly work towards our 20-gigawatt target by 2030. It empowers us to generate more clean and sustainable energy, a necessity in this era of escalating power demand.”
ACEN is one of the largest renewable energy companies in the region with 4,500 megawatts of attributable capacity across the Philippines, Australia, Vietnam, Indonesia, and India. The energy company has set its goal to transition its power generation portfolio to 100 percent renewables by 2025 and aims to reach 20 GW of renewables capacity by 2030.
