The fund will be used for its growth in other markets.
ACEN, through its subsidiary ACEN Renewables International, secured a $150m green term loan facility with the Sumitomo Mitsui Banking Corporation Singapore Branch which will support its expansion into other key markets, including Australia.
In a statement, ACEN said the loan will also support its goal to reach 20 gigawatts of renewable energy by 2030.
“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 our vision,” said ACEN group treasurer Cecile Cruzabra.
“This facility is a strategic addition to ACEN’s portfolio of Green Financings aimed at fulfilling our contribution to achieving Net Zero commitments,” she added.
The loan has a tenure of five years.
