ACEN Gets Loan For Green Project
ACEN announced today that it and its subsidiary, ACEN Australia, and DBS Bank Australia, executed a Common Provisions Agreement and a Facility Agreement for an AUD 100 million green long-term revolving loan facility.
Photo Insert: An ACEN Australia groundbreaking
The loan will provide capital financing for ACEN’s eligible green assets in Australia as part of its strategic aspiration to grow its renewables capacity to 20 GW by 2030.
This green long-term revolving loan facility is part of ACEN’s aim to raise an initial issuance of over AUD 600 million to support the development of ACEN’s projects in Australia, which was announced earlier this year.
DBS is the sole arranger and sustainability advisor for the AUD 100 million green long-term revolving loan facility that will provide capital financing for ACEN’s eligible green assets in Australia, the first within the Ayala group.
Anton Rohner, CEO of ACEN Australia, said: “The initial green loan facility with DBS will help advance our fund-raising capacity of over AUD 600 million in Australia to develop and construct an existing and additional pipeline of renewable energy projects in Australia.”
Patrice Clausse, COO of ACEN International, said: “We are committed to growing ACEN’s renewables platform backed by our vision to reach 20 GW of renewables by 2030. ACEN is leading the charge with the decarbonization opportunities across Asia and the Pacific. We aim to make a significant impact in this space, and create long-term value for our stakeholders.”
Kelvin Wong, managing director, deputy head of energy, renewables, and infrastructure at DBS Bank, said: “As a leading bank in sustainable financing, we are excited to support ACEN’s continued efforts to expand their renewables infrastructure to accelerate the transition of the energy industry towards a climate-aligned future. Having pledged to achieve net zero financed emissions by 2050, DBS is also committed in supporting like-minded clients like ACEN in the long haul to enhance Asia’s renewable energy mix to realize a low-carbon economy.”