Ayala Corp. energy unit ACEN, its subsidiary ACEN Australia, and DBS Bank Australia executed common provisions and a facility agreement for 100 million green Australian dollars (P3.846 billion) long-term revolving loan facility.
The loan will provide capital financing for ACEN’s eligible green assets in Australia as part of its strategic aspiration to grow its renewable capacity to 20 gigawatts by 2030.
The green long-term revolving loan facility is part of ACEN’s aim to raise an initial issuance of over Australian $600 million (P23 billion) 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 revolving loan facility tranche that will provide capital financing for ACEN’s eligible green assets in Australia, the first within the Ayala group.
RE plans boosted
“The initial green loan facility with DBS will help advance our fund-raising capacity to develop and construct existing and additional pipeline of renewable energy projects in Australia,” Anton Rohner, CEO of ACEN Australia, said.
Meanwhile, 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 ACEN’s continued efforts to expand its renewables infrastructure to accelerate the transition of the energy industry towards a climate-aligned future deserves support.
“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,” Wong added.