ACEN secures AU$277m funding for Australia platform
This forms part of the largest syndicated green term loan facility the company bagged.
ACEN, through its subsidiary ACEN Australia, has signed an AU$277m syndicated green term loan facility with major international banks.
The loan will provide capital financing for ACEN’s renewable energy portfolio in Australia, which is vital in attaining its target of raising its renewable capacity to 20 gigawatts by 2030.
“This syndicated green term loan facility continues to build on the funding secured at the end of last year and will be mobilized into our Australian portfolio,” Anton Rohner, ACEN Australia CEO, said.
“With Stubbo 520 MWDc project reaching Notice to Proceed late in 2022, ACEN continues on the journey of decarbonizing Australia. It is exciting to work with quality financial institutions, and the appetite for quality investments is real.”
Read more: ACEN net income climbs by 23% in Q3
The AU$277m syndicated green term loan facility forms part of the AU$600m target.
In August, ACEN Australia executed an AU$100 million green long-term revolver with DBS Bank Australia, followed by the AU$140 million green long-term facility signed with MUFG Sydney Branch, and the AU$75 million green debt facility signed with the Australian government’s Clean Energy Finance Corporation (CEFC).