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Ayala-led ACEN Corp.’s Australia unit announced that it has secured financing for its operating renewable assets and new projects from several international banks.
In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, April 15, the company said ACEN Australia secured a 750 million Australian dollar portfolio debt financing— equivalent to approximately ₱27 billion—to cement its position as a contributor to Australia’s clean economy.
This budget is said to support the 520-megawatts direct current (MWdc) Stubbo solar project in New South Wales and will build on the firm’s progress on the 521-MWdc New England solar project.
Eleven Australian banks and lenders contributed to ACEN Australia’s funding. These include ANZ Banking Group, Commonwealth Bank of Australia, CTBC Bank Co. Ltd. Singapore branch, Cathay United Bank, DBS Bank Ltd. Australia branch, Hongkong and Shanghai Banking Corp. Ltd. (HSBC) Sydney branch, MUFG Bank Ltd., Sumitomo Mitsui Banking Corp. Sydney branch, United Overseas Bank (UOB), and Westpac Banking Corp.
One local bank, CTBC Bank (Philippines) Corp., contributed to the debt financing as well.
ACEN Australia Managing Director David Pollington stated that the financing would create a funding base for the company’s wind, solar, pumped hydropower, and battery storage projects.
“Our ability to attract top-tier financial partners reinforces our position as a trusted, long-term developer, owner and operator of assets, and reflects growing investor appetite for high-quality, renewable infrastructure in Australia,” he said.
Phillip Mak, chief financial and investments officer of ACEN Australia, hopes that this would solidify the company’s capability to secure competitive funding, stating that, “This transaction strengthens our funding platform, accelerates our delivery pipeline, and positions us as a capable partner backed by a stable and diverse capital base.”
Aside from Australia, ACEN has notable energy assets in other countries such as Vietnam, India, and Laos.
The firm currently has less than seven gigawatts (GW) worth of renewable energy (RE), which include those in commercial operations, under development, and committed projects.
