ACEN Australia signed a syndicated green term loan facility with major international banks amounting to A$ 277 million (P10.59 billion), the platform’s largest green term loan facility to date.
ACEN said the money will be used for capital financing of solar, wind, battery storage, pumped hydro power and energy storage projects in Australia.
The company sees renewable energy (RE) projects in Australia significantly contributing to the company’s aspiration to grow its RE capacity to 20 gigawatts (GW) by 2030.
ACEN said the 720 megawatts (MW) New England Solar farm, the first of these projects, is expected to be in operation by the middle of the year.
ACEN Australia has more than 1.5 GW of projects under construction or in advanced stage of development.
ACEN said the syndicated green term loan facility is part of its A$600 million target to be used in capitalizing Australia’s unparalleled renewables potential and is a follow- through to several transactions completed last year.
ACEN said the loan facility were provided by Bank of China in Manila and Hong Kong, CTBC Bank in Manila and Singapore and Standard Chartered Bank in Australia. Bank of China (Hong Kong) Ltd. served as the green loan structuring bank while Commonwealth Bank of Australia acted as the agent for the syndicated green term loan facility.
“This syndicated green term loan facility continues to build on the funding secured at the end of last year and will be mobilized into our Australian portfolio. With Stubbo 520 MW project reaching notice to proceed late in 2022, ACEN continues on the journey in decarbonizing Australia. It is exciting to work with quality financial institutions and the appetite for quality investments is real,” said Anton Rohner, ACEN Australia chief executive officer, in a statement.
ACEN, as a whole, currently has 18,000 MW of RE pipeline across the region with projects located in the Philippines, Australia, Vietnam, Indonesia and India. -Jed Macapagal
