ACEN bags $150m green loan

The fund will be used for its growth in other markets.

ACEN, through its subsidiary ACEN Renewables International, secured a $150m green term loan facility with the Sumitomo Mitsui Banking Corporation Singapore Branch which will support its expansion into other key markets, including Australia.

In a statement, ACEN said the loan will also support its goal to reach 20 gigawatts of renewable energy by 2030.

ALSO READ: ACEN JV buys 38 MW wind project from EDF Renewables North America

“This benchmark deal not only lends support to our momentum in expanding our international business but is also a testament to the faith our banking partners place in our ability to execute our vision,” said ACEN group treasurer Cecile Cruzabra.

“This facility is a strategic addition to ACEN’s portfolio of Green Financings aimed at fulfilling our contribution to achieving Net Zero commitments,” she added.

The loan has a tenure of five years.