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Lending & Credit

Staff Reporter

, Philippines

Published:

1 year ago

Photo by Angie Reyes: https://www.pexels.com/photo/philippine-money-on-black-surface-6921969/

ACEN secures $197.6m sustainability-linked loan facility

It partnered with the Asian Development Bank and the Bank of the Philippine Islands.

ACEN inked about $197.6m (P11b) sustainability-linked loan facility with the Asian Development Bank and the Bank of the Philippine Islands to fund its solar projects.

In a statement, ACEN Chief Finance Officer Cora Dizon said the company’s maiden sustainability-linked loan aligns with the company's goals towards investing in sustainable energy infrastructure for its net-zero goals.

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

ACEN President and CEO Eric Francia said: "This financing is not just a loan; it is a clear testament of our unwavering commitment to our sustainability ambitions as we set the stage for accelerated growth in the renewables sector.”

Francia said the loan will support the company’s goal to reach 20 gigawatts of power capacity by 2030, from its current capacity of around 4,500 megawatts.

$1 = P55.66

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