The Land Bank of the Philippines (LANDBANK) has greenlit a ₱20-billion loan for ACEN CORPORATION, the Ayala Group’s energy platform. This financial support aims to bolster the National Government’s initiative to diversify the country’s renewable energy sources.
Aligned with the National Renewable Energy Program, the loan will aid ACEN in meeting the government’s goal of raising the share of renewable energy in the nation’s power generation mix from 22% to 35% by 2030.
The agreement was formalized between LANDBANK President and CEO Lynette V. Ortiz and ACEN President and CEO Eric Francia on November 29, 2023.
The partnership emphasizes LANDBANK’s commitment to fostering sustainable finance and environmental protection, contributing to the country’s climate change mitigation efforts.
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