• A new green finance initiative to support ACEN’s 20 GW renewable energy ambition by 2030
  • An inaugural partnership with SMBC, underscoring a shared commitment to advance Asia-Pacific’s green energy transition and international market growth
  • Flexible funding structure empowers ACEN to bolster international renewable projects

15 April 2024 – ACEN, through its subsidiary ACEN Renewables International (ACRI), has signed a US$150 million green term loan facility with Sumitomo Mitsui Banking Corporation Singapore Branch (SMBC). This strategic financial move is in line with ACEN’s ongoing efforts to finance investments in renewable power projects across the region.

The green term loan, with a tenure of five years, is arranged by SMBC, which acts as both lender and green loan coordinator. This marks the first partnership between ACEN and the financial institution, signaling a new chapter in ACEN’s journey towards achieving 20 GW of renewables by 2030.

Through the loan, ACEN aims to enable its strategic expansion into several key international markets, including Australia.

ACEN’s group treasurer, Cecile Cruzabra, commented: “We are very pleased with the closing of this landmark US$/AU$ dual-currency loan with SMBC. This benchmark deal not only lends support to our momentum in expanding our international business, but is also a testament to the faith our banking partners place in our ability to execute on our vision. This facility is a strategic addition to ACEN’s portfolio of Green Financings aimed at fulfilling our contribution to achieving Net Zero commitments.”

Executive Officer, Corporate Banking Asia Pacific, Hideo Uchida, said: “SMBC is proud to extend our support for ACEN Renewables International in its push for a greener future. This achievement underscores the strength of our relationship and our shared commitment in supporting the Asia Pacific region’s transition towards a Net Zero aligned future. As we celebrate the success of this closing, we look forward to our continued partnership with all our clients on their transition journey in achieving their sustainability ambitions.”

Head of Renewables, Utilities & Infrastructure Sector Banking Asia, Zia Azeez, added: “This financing is a continuation of our partnership with ACEN across multiple renewable projects in the region, commencing with their first overseas project in Indonesia some years back. We look forward to continuing this journey with ACEN as they march towards 20 GW of green power by 2030.”



Related news: