19 September 2022 – ACEN Australia and MUFG, Sydney Branch executed a Facility Agreement and an Accession Letter (to include MUFG as a Lender under the Common Provisions Agreement) for an up to AUD 140 million green long-term loan facility. As part of ACEN’s strategic aspiration to grow its renewables capacity to 20 GW by 2030, this green longterm loan facility is part of ACEN’s aim to raise over AUD 600 million to support the development of ACEN’s projects in Australia, which was announced earlier this year.
MUFG is the sole arranger and green loan coordinator for the AUD 140 million green long-term loan facility that will provide capital financing for ACEN’s eligible green assets in Australia.
This is the second loan facility following the signing of an AUD 100 million facility with DBS Bank to support the ACEN Australia development portfolio in Australia.
Manoj S. Bhatia, MUFG Bank’s Global Head of Subsidiary Banking, said: “MUFG has been steadfast in leveraging its unrivalled global network and its expertise in financing the renewable energy sector. ACEN’s aspiration towards becoming a leading renewable energy provider in Asia is aligned with MUFG’s sustainability mission, and we are privileged to partner with the company in its commitment towards building a sustainable future.”
ACEN Australia is the platform representing ACEN’s renewable energy assets in Australia. It includes several solar, wind, battery, pumped hydro and energy storage projects across New South Wales, Tasmania, Victoria and South Australia in development and construction. The New England Solar farm, the first of these projects, is expected to be in operation by 2023.