ACEN, through its subsidiary ACEN Renewables International Pte. Ltd., has secured a five-year syndicated green term loan and revolving credit facility worth $150 million.
A consortium of leading international financial institutions has participated in this transaction, reflecting strong market confidence in ACEN’s robust renewable energy pipeline across the Asia Pacific region.
CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. acted as the structuring bank and arranger, respectively, forming a strategic alliance with five banks to support ACEN’s expanding presence in the region.
The proceeds from this syndicated green loan will aid ACEN in its goal of achieving 20 GW of renewable capacity by 2030.
ACEN currently boasts approximately 4.8 GW of attributable renewables capacity in operation and under construction, alongside signed agreements and won competitive tenders worth over 1 GW, surpassing its original target of 5 GW by 2025.
Cecile Cruzabra, ACEN group treasurer, commented: “The participation of various international banks in this transaction, including a long-term revolving facility, demonstrates the financial community’s strong confidence in ACEN’s leadership in the renewable energy sector and their full support for our growing pipeline outside our home market. We are thankful to the lenders for their trust as we strategically head towards our goal of reaching 20 GW by 2030.”
CTBC Bank (Philippines) Corp. and CTBC Singapore branch also commended ACEN’s vision and aspiration, highlighting the strong support from the bank syndicate, which is committed to sustainability goals and reducing the threat of rising global temperatures.
Source :ACEN Renewables
