ACEN Corp's renewables subsidiary has successfully secured a USD 100 million (EUR 92.8m) green term loan facility from MUFG Bank Ltd, a unit of Mitsubishi UFJ Financial Group (MUFG). The five-year debt facility, arranged and coordinated solely by MUFG, is aimed at supporting the expansion of ACEN Renewables International Pte Ltd in overseas markets, including Australia.
ACEN Corp, based in the Philippines, envisions reaching 20 GW of installed renewables by 2030 and sees the fresh capital injection as a key driver for its international business expansion.
The company currently boasts approximately 4.5 GW of attributable capacity spread across the Philippines, Australia, Vietnam, Indonesia, and India. Of the targeted 20 GW, around 8 GW is planned for deployment within the Philippines.
ACEN highlighted that its renewable energy arm has garnered approvals for up to USD 422 million in term financing, in addition to the newly secured MUFG debt. The company intends to utilize these funds over the next two years as part of its strategic growth initiatives.
