13 December 2023 – ACEN, the Ayala group’s listed energy platform, announced today that it has signed an PhP11 billion sustainability-linked loan facility with the Asian Development Bank (ADB) and the Bank of the Philippine Islands (BPI). The loan, which includes a partial credit guarantee by ADB, underscores ACEN’s integrated sustainability approach and commitment to renewable energy development. It will finance ACEN’s solar projects, propelling ACEN further as a leader in the energy transition.
Eric Francia, ACEN president and CEO, emphasized the significance of the sustainability-aligned loan, stating: “This financing is not just a loan; it is a clear testament of our unwavering commitment to our sustainability ambitions as we set the stage for accelerated growth in the renewables sector. ACEN currently has ~4,500 MW of attributable capacity, and this loan is an instrumental step towards our ambitious target of reaching 20 GW by 2030.”
Cora Dizon, ACEN chief finance officer, added: “ACEN’s maiden sustainability-linked loan exemplifies our strategic financing approach, one that places environmental, social, and governance (ESG) initiatives at the forefront. This loan aligns with our priorities and enables us to consistently invest in sustainable energy infrastructure towards our net zero transition goal.”
ACEN has been a driving force in the development of new renewable energy projects in its core market, the Philippines, and across the region, utilizing various capital-raising initiatives to strengthen the company’s balance sheet.
The loan aligns with ACEN’s aspiration to become the largest listed renewables platform in Southeast Asia and will contribute to the development of solar projects.
Cecile Cruzabra, ACEN treasurer, said: “The partnership among ACEN, ADB, and BPI represents more than just a financial collaboration but also a shared commitment to renewable energy development and a joint mission to achieve net zero GHG emissions, towards a sustainable future for all.”
