ACEN, HSBC Ink AU$75M Green Term Loan

ACEN Treasurer Cecile Cruzabra and ACEN International AVP for Business Development Louie Chan with (from left) HSBC Senior Corporate Banking Manager Ashley Davis, Managing Director and Country Head of International Subsidiary Banking Harish Venkatesan, and Managing Director and Regional Head of Sustainability - Asia Pacific Sunil Veetil at the ceremonial signing of the green term loan facility on December 7

ACEN, through its subsidiary ACEN Renewables International Pte. Ltd (ACRI), has secured an AU$75 million green term loan with the Hongkong and Shanghai Banking Corp. Ltd. (HSBC). The loan agreement underlines ACEN’s strategic move to bolster its renewable energy initiatives in Australia, an emerging key market for the company.

The green term loan will deliver the much-needed capital for ACEN’s renewable energy projects in a market that is not only the company’s largest outside of the Philippines, but also a critical player in its ambitious goal to expand its renewable energy capacity to 20 gigawatts by 2030.

ACEN Treasurer Cecile Cruzabra said: “This AUD green term loan of ACRI is a significant stepping stone in our funding journey—supporting our expansion plans in Australia, as well as helping manage our foreign currency risk in AUD.”

ACEN Australia, the platform representing ACEN’s renewable energy assets in the country, is set to play a vital role in the company’s renewables expansion in the region. With over 1 GW capacity of renewable energy generation currently in construction and operation, and an additional 8 GW capacity in development, ACEN Australia has a diverse mix of solar, wind, battery, and pumped hydro projects.

ACEN Joins Powering Past Coal Alliance at COP28

Fresh from its successful run at the 28th Conference of the Parties (COP28), ACEN bolsters its commitment to renewable energy by joining the prestigious Powering Past Coal Alliance (PPCA), the first and only global coalition of national, sub-national governments, and private businesses striving to transition from unabated coal power generation to cleaner, renewable energy sources.