Listed power firm ACEN Corp. will continue to expand its renewable energy (RE) portfolio in Australia after securing a second green loan facility for investments in the region.
In a disclosure to the Philippine Stock Exchange, the company said ACEN Australia and MUFG Sydney branch executed a facility agreement and an accession letter for an up to AUD140 million (P5.4 billion) green long-term loan facility.
ACEN said the loan facility is part of its goal to raise over AUD 600 million (P23.17 billion) to support the development of green energy projects in Australia and help meet the group’s strategic aspiration to grow its RE capacity to 20,000 megawatts(MW) by 2030.
Notably, this is the second loan facility signed by ACEN for Australia, following the signing of an AUD 100 million facility with DBS Bank last month.
ACEN Australia is the platform representing ACEN’s RE 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 under construction. –Jed Macapagal
