The Manila Times

ACEN Australia gets green term loan

BY EIREENE JAIREE GOMEZ

AC Energy Australia and MUFG, Sydney Branch executed a facility agreement for up to AU$140-million green long-term loan facility as part of the company’s effort to raise over AU$600 million to support the development of its projects in Australia.

MUFG is the sole arranger and green loan coordinator for the AU$140-million green long-term loan facility that will provide capital financing for ACEN’s eligible green assets in Australia. This is the second loan facility following the signing of an AU$100-million facility with DBS Bank to support the ACEN Australia development portfolio in Australia.

“MUFG has been steadfast in leveraging its unrivaled global network and its expertise in financing the renewable energy sector. ACEN’s aspiration toward becoming a leading renewable energy provider in Asia is aligned with MUFG’s sustainability mission, and we are privileged to partner with the company in its commitment toward building a sustainable future,” said Manoj Bhatia, MUFG Bank’s global head of subsidiary banking.

AC Energy Australia is the platform representing ACEN’s renewable energy assets in Australia. It includes several solar, wind, battery, pumped hydro and energy storage projects across New South Wales, Tasmania, Victoria and South Australia in development and construction. The New England Solar farm, the first of these projects, is expected to be in operation by 2023.

Ayala-led ACEN has 4,000 megawatts of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia, with a renewable share of 87 percent, which is among the highest in the region.

CORPORATE NEWS

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2022-09-21T07:00:00.0000000Z

2022-09-21T07:00:00.0000000Z

https://digitaledition.manilatimes.net/article/281887302167699

The Manila Times