ACEN Renewables International Pte. Ltd (ACRI), a subsidiary of ACEN Corp. based in Singapore, signed a $100 million green term loan facility with MUFG Bank Ltd. (MUFG), which is a part of Mitsubishi UFJ Financial Group.
ACEN said in a disclosure to the Philippine Stock Exchange Thursday the investment would be directed toward the growth and development of the company’s renewable energy projects outside the country.
The green long-term facility will finance ACEN’s strategic expansion into several international markets including Australia, its largest market outside the Philippines.
The funding aligns with ACEN’s ambitious goal of achieving 20 gigawatts of renewables by 2030.
“We are delighted to collaborate with MUFG once again, a move that signals a significant step forward in our mission to expand our renewable energy portfolio globally. This funding will play a pivotal role in accelerating our projects beyond the Philippines, bringing us closer to our goal of a greener, more sustainable future,” ACEN treasurer Cecile Cruzabra said.
MUFG acted as the sole arranger and green loan coordinator for the term loan, which operates under a five-year term, and is encompassed within ACEN’s green finance framework.
The MUFG facility forms part of ACRI’s term fundraising efforts, which have current approvals in place for up to $422 million, with forecasted use of the funds in the next two years.
“This landmark transaction is a reaffirmation of the partnership between MUFG and ACEN while demonstrating a deepening alignment of our sustainability objectives. We look forward to further leverage our extensive network and expertise in renewables financing in support of its 2030 renewables goal,” MUFG head of global corporate banking for Singapore Randy Loo said.
MUFG’s head of ESG finance for APAC Colin Chen said RE remains a key component of Asia’s decarbonization pathway, and financing RE forms part of the bank’s approach to Net Zero.
“This transaction is not only a landmark for ACEN but brings online much-needed renewable energy capacity that will take us closer to a carbon-neutral future,” Chen said,
ACEN, the listed energy platform of the Ayala Group, has about 4,500 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India.
ACEN Renewables International Pte. Ltd (ACRI), a subsidiary of ACEN Corp. based in Singapore, signed a $100 million green term loan facility with MUFG Bank Ltd. (MUFG), which is a part of Mitsubishi UFJ Financial Group.
ACEN said in a disclosure to the Philippine Stock Exchange Thursday the investment would be directed toward the growth and development of the company’s renewable energy projects outside the country.
The green long-term facility will finance ACEN’s strategic expansion into several international markets including Australia, its largest market outside the Philippines.
The funding aligns with ACEN’s ambitious goal of achieving 20 gigawatts of renewables by 2030.
“We are delighted to collaborate with MUFG once again, a move that signals a significant step forward in our mission to expand our renewable energy portfolio globally. This funding will play a pivotal role in accelerating our projects beyond the Philippines, bringing us closer to our goal of a greener, more sustainable future,” ACEN treasurer Cecile Cruzabra said.
MUFG acted as the sole arranger and green loan coordinator for the term loan, which operates under a five-year term, and is encompassed within ACEN’s green finance framework.
The MUFG facility forms part of ACRI’s term fundraising efforts, which have current approvals in place for up to $422 million, with forecasted use of the funds in the next two years.
“This landmark transaction is a reaffirmation of the partnership between MUFG and ACEN while demonstrating a deepening alignment of our sustainability objectives. We look forward to further leverage our extensive network and expertise in renewables financing in support of its 2030 renewables goal,” MUFG head of global corporate banking for Singapore Randy Loo said.
MUFG’s head of ESG finance for APAC Colin Chen said RE remains a key component of Asia’s decarbonization pathway, and financing RE forms part of the bank’s approach to Net Zero.
“This transaction is not only a landmark for ACEN but brings online much-needed renewable energy capacity that will take us closer to a carbon-neutral future,” Chen said,
ACEN, the listed energy platform of the Ayala Group, has about 4,500 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India.