ACEN Bags US$150-M Green Loan From Foreign Banks For Its Asia-Pacific RE Projects

ACEN, through its subsidiary ACEN Renewables International Pte. Ltd., has successfully secured a US$150 million five-year syndicated green term loan and revolving credit facility from international banks.

ACEN lists up to 4.8 GW of attributable renewables capacity in operation and under construction. I Photo: ACEN

In a disclosure to the Philippine Stock Exchange (PSE), the company noted that a consortium of leading international financial institutions welcomed the transaction, which will support ACEN’s fast-growing presence in Asia and the Pacific.

CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. acted as structuring bank and arranger, respectively, for the transaction and formed a strategic alliance with five banks.

The aforementioned are the Singapore branches of CTBC Bank Co., Ltd., Malayan Banking Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, and Mega International Commercial Bank Co., Ltd.

The company highlighted that the positive reception of the transaction further solidified the market’s trust and confidence in ACEN’s robust renewable energy pipeline across the region.

ACEN lists up to 4.8 GW of attributable renewables capacity in operation and under construction.

It has also signed agreements and won competitive tenders worth over 1 GW. With this, the company has already surpassed its original goal of reaching 5 GW of renewables by 2025.

Cecile Cruzabra, ACEN group treasurer, said, “The participation of different international banks in this transaction, which includes a long-term revolving facility, demonstrates the financial community’s strong confidence in ACEN’s leadership in the renewable energy sector as we strategically head towards our goal of reaching 20 GW by 2030.”

Mike Albotra, CTBC Bank (Philippines) Corp. SVP of the institutional banking group, added, “Our introduction of ACEN to the Taiwan investors last year has indeed paved the way for this much-awaited transaction, which we are truly honored to have successfully arranged.”

Sunny Sng, CTBC Singapore branch head of corporate banking, commented, “CTBC is deeply honored to be trusted by ACEN Corporation to lead and arrange ACRI’s first syndicated Green Loan Facility.

Together, the bank syndicate is committed to supporting ACEN in growing its international portfolio and achieving its goal of 20 GW of renewable capacity by 2030.”