ACEN’s Australian unit gets A$100 million green financing

MANILA, Philippines — ACEN Corp. subsidiary ACEN Australia and DBS Bank Australia have executed a facility agreement for a A$100 million green long-term revolving loan facility.

The loan will  provide capital financing for ACEN’s eligible green assets in Australia.

The green long-term revolving loan facility is part of ACEN’s aim to raise over A$600 million to support the development of ACEN’s projects in Australia, which was announced earlier this year.

“The initial green loan facility with DBS will help advance our fund-raising capacity of over A$600 million in Australia to develop and construct existing and additional pipeline of renewable energy projects in Australia,” ACEN Australia CEO Anton Rohner said.

DBS is the sole arranger and sustainability advisor for the green long-term revolving loan facility.

“As a leading bank in sustainable financing, we are excited to support ACEN’s continued efforts to expand their renewables infrastructure to accelerate the transition of the energy industry towards a climate-aligned future,” said Kelvin Wong, managing director and deputy head of energy, renewables and infrastructure at DBS.

“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 said.

ACEN is seeking to grow its renewables capacity to 20 gigawatts (GW) by 2030.

The company currently has 18 GW of pipeline across the region, which will help achieve  the company’s 2030 goals.

“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,” ACEN International COO Patrice Clausse said.