ACEN unit inks $100m loan for renewable energy projects

This will focus on projects outside of Manila.

Philippines-based ACEN Corp. has announced that its subsidiary has secured $100m financing, which will support its expansion outside of its home country.

In a bourse filing, ACEN said ACEN International, Inc. completed the signing of a facility agreement with MUFG Bank, Ltd., Singapore Branch for $100m. This will “finance and/or refinance investments in existing and future renewable energy projects outside the Philippines through its subsidiaries and joint ventures, and for general corporate purposes.”

Aside from the Philippines, which is its largest market, ACEN has projects in various countries, including Australia, Vietnam, and India, where it has reached over 2,100 megawatts of direct current of attributable capacity.