ACEN Secures US$150 Million Green Loan Facility From Japanese Bank SMBC

Philippines headquartered energy company ACEN, through its subsidiary ACEN Renewables International (ACRI), has signed a US$150 million green term loan facility with Sumitomo Mitsui Banking Corporation Singapore Branch (SMBC).

The green term loan, with a tenure of five years, is arranged by SMBC, which acts as both lender and green loan coordinator. This marks the first partnership between ACEN and the financial institution.

ACEN said in a statement the strategic financial move is in line with its ongoing efforts to finance investments in renewable power projects across the region. Through the loan, ACEN aims to enable its strategic expansion into several key international markets, including Australia.

SMBC’s Head of Renewables, Utilities & Infrastructure Sector Banking Asia, Zia Azeez, said: “This financing is a continuation of our partnership with ACEN across multiple renewable projects in the region, commencing with their first overseas project in Indonesia some years back. We look forward to continuing this journey with ACEN as they march towards 20 GW of green power by 2030.”

ACEN’s group treasurer, Cecile Cruzabra, commented: “We are very pleased with the closing of this landmark US$/AU$ dual-currency loan with SMBC. This benchmark deal not only lends support to our momentum in expanding our international business, but is also a testament to the faith our banking partners place in our ability to execute on our vision. This facility is a strategic addition to ACEN’s portfolio of Green Financings aimed at fulfilling our contribution to achieving Net Zero commitments.”