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Lending & Credit

Staff Reporter

, Philippines

Published:

11 months ago

Photo by Karolina Grabowska: https://www.pexels.com/photo/bitcoins-on-paper-money-5980584/

ACEN bags $49.15m green term loan for Australia RE expansion

It secured the green term loan from HSBC.

ACEN unit ACEN Renewables International Pte. Ltd. has signed a green term loan for around $49.15m (A$75m) with the Hong Kong and Shanghai Banking Corp. (HSBC) to boost the company’s renewable energy deployment in Australia.

In a statement, ACEN said the amount will play a crucial role in driving towards its goal to reach 20 gigawatts of renewable energy capacity by 2030.

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

"This AUD green term loan of ACRI is a significant stepping stone in our funding journey—supporting our expansion plans in Australia, as well as helping manage our foreign currency risk in AUD,” said ACEN Treasurer Cecile Cruzaba.

ACEN Australia currently has one-gigawatt renewables capacity in construction and operation and an additional 8 GW across solar, wind, battery and pumped hydro projects.

$1 = A$1.53

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