ACEN Renewables International (ACRI) has successfully obtained a $150 million green loan over five years to fuel its extensive growth across the Asia-Pacific region. This financing was facilitated by a consortium led by CTBC Bank (Philippines) and CTBC Co. Ltd., alongside four other banks: Malayan Banking Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, and Mega International Commercial Bank Co., Ltd.
Group treasurer Cecille Cruzabra said the strong reception from leading international financial institutions underscores confidence in ACEN’s robust renewable energy pipeline. “The participation of different international banks in this transaction, which includes a long-term revolving facility, demonstrates the financial community’s strong confidence in ACEN’s leadership in the renewable energy sector and their full support for our growing pipeline outside our home market. We are thankful to the lenders for their trust as we strategically head towards our goal of reaching 20 GW by 2030”, she said.
ACEN presently operates and is constructing renewable capacity totaling about 4.8 GW, in addition to signed agreements and successful competitive tenders exceeding 1 GW. Mike Albotra, SVP of the institutional banking group at CTBC Bank (Philippines) Corp., remarked, "Introducing ACEN to Taiwan investors last year paved the way for this long-awaited transaction, which we are honored to have successfully arranged. We have confidence in ACEN's narrative, its vision, and its goal of achieving 20 GW capacity by 2030".
The banks' robust backing of ACEN underscores their dedication to sustainability objectives and a strong desire to mitigate the impact of global temperature rise. Sunny Sng, Head of Corporate Banking at CTBC Singapore branch, expressed that the bank consortium is committed to aiding ACEN in expanding its global portfolio.