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Lending & Credit

Staff Reporter

, Philippines

Published:

4 months ago

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ACEN unit inks 1st green term loan facility with MUFG Bank

The $100m loan will support the company’s strategic expansion.

Singapore-based ACEN Renewables International (ACRI), a subsidiary of ACEN Corporation has secured a $100m green term loan facility from MUFG Bank which will be used to fund the company’s renewable energy projects outside of the Philippines.

In a statement, the loan is in line with ACEN’s strategic expansion in international markets including Australia and supports its goal to reach 20 gigawatts of clean energy by 2030.

ALSO READ: ACEN seals deal with US-based firm for renewable energy projects

“This funding will play a vital role in accelerating our projects beyond the Philippines, bringing us closer to our goal of a greener, more sustainable future,” ACEN Treasurer Cecile Cruzabra said.

The long-term facility with MUFG, which operates under a five-year term, is part of ACRI’s fundraising initiatives which reach up to $422m. The funding is expected to be used in the next two years.

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