ACEN secures $150m green term loan to boost APAC expansion

This has a five-year term.

Philippines’ ACEN, through its subsidiary ACEN Renewables International Pte. Ltd, has secured a syndicated green term loan and revolving credit facility amounting to $150m that will fund the expansion of its clean energy capacity in the Asia Pacific (APAC).

In a bourse filing, ACEN said the five-year loan was granted by a consortium of international financial institutions. CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. acted as structuring bank and arranger, respectively, and formed a strategic alliance with five banks – Singapore branches of CTBC Bank Co., Ltd., Malayan Banking Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, and Mega International Commercial Bank Co., Ltd, it noted.

It currently has about 4.8 gigawatts (GW) of attributable renewables capacity in operation and under construction, as well as signed agreements and secured competitive tenders worth over 1 GW.

ACEN said it has surpassed its goal of reaching 5 GW of renewables by 2025. It aims to grow its renewable capacity to 20 GW by 2030.

In June, the company announced plans to raise $15b to quadruple its renewables capacity in six years.

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