ACEN Corp., through its subsidiary, ACEN Australia, has secured a total of AUD 150 million green term loan from the Australia and New Zealand Banking Group Ltd. (ANZ) and Westpac Banking Corp.
The company said in a statement yesterday each bank is providing a facility limit of AUD 75 million with a four-year tenor.
ACEN said the green term loan will help the company’s efforts to expand its renewable energy (RE) project pipeline in Australia, which is its second-largest market after the Philippines.
At present, the company’s portfolio in Australia is more than 1 gigawatt (GW) of large-scale RE generation under construction and in operation, with an additional development pipeline of more than 8 GW of solar, wind, battery and pumped hydro projects.
Cecile Cruzabra, ACEN treasurer, said in a statement the partnership with Australian financial institutions “is a clear indication of the growing appetite for sustainable investment opportunities in Australia.”
“Securing this green term loan from ANZ and Westpac is an important step for ACEN Australia. It’s a vote of confidence in our strategic direction and capacity to deliver on the promise of renewable energy,” said David Pollington, ACEN Australia managing director.
“Our focus remains on the responsible deployment of capital to ensure the timely delivery of our projects whilst striving for operational excellence. We are building on our track record as we significantly contribute to Australia’s renewable energy transition,” Pollington added.– Jed Macapagal