ACEN inks $601.15m loan for onshore wind project

The credit will partially fund a 344.5 MW project in the Philippines.

ACEN Corp. has secured a senior green term loan facility amounting up to $601.15m (PHP 34.41b) to partially finance an onshore wind power project.

According to a bourse filing, ACEN and its subsidiaries inked an Omnibus Loan and Security Agreement on 29 March to partially fund GIGA ACE 6, Inc.’s 344.5 megawatt-peak Quezon North Onshore Wind Power Project. The loan agreement was signed with the Bank of the Philippine Islands, BDO Unibank, and Rizal Commercial Banking Corporation.

The project is located in the municipalities of Mauban and Real, province of Quezon, and the municipalities of Paete and Kalayaan, province of Laguna.