ACEN Corp. said it executed a common provisions agreement and a facility agreement with ACEN Australia and DBS Bank Ltd., Australia Branch for a AUD100 million (P3.87 billion) green long-term revolving loan facility.
In a disclosure to the Philippine Stock Exchange, ACEN said it acted as guarantor to ACEN Australia.
Last May, ACEN started the operations of a 50-megawatts (MW) one -hour battery energy storage system in Australia that will be connected to the 720 MW New England solar farm that is being developed in Uralla, New South Wales.
The company plans to aggressively grow its investments in Australia which is expected to be its second largest market within the decade, while also growing its presence in Vietnam, Indonesia and India.
ACEN said solar and wind technologies will remain its core energy technologies, complemented by investments in new technologies such as battery energy storage, floating solar and offshore wind. -Jed Macapagal