- Leveraging on sustainable finance to help accelerate the company’s renewables expansion in the region
- New renewable energy projects to boost Australia’s renewables sector, supporting the country’s green transition
- ACEN’s growing pipeline in Australia includes solar, wind, battery, and pumped hydro projects
12 December 2023 – ACEN, through its subsidiary ACEN Renewables International Pte. Ltd (ACRI), has secured an AU$ 75 million green term loan with the Hongkong and Shanghai Banking Corp. Ltd. (HSBC). The loan agreement underlines ACEN’s strategic move to bolster its renewable energy initiatives in Australia, an emerging key market for the company.
The green term loan will deliver the much-needed capital for ACEN’s renewable energy projects in a market that is not only the company’s largest outside of the Philippines, but also a critical player in its ambitious goal to expand its renewable energy capacity to 20GW by 2030.
ACEN Treasurer, Cecile Cruzabra, commented: “This AUD 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 AUD.”
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 8GW capacity in development, ACEN Australia’s portfolio boasts a diverse mix of solar, wind, battery, and pumped hydro projects across the country.