ACRI Successfully Obtains 100M Green Term Loan Facility from MUFG

ACEN Renewables International Pte. Ltd (ACRI), a subsidiary of ACEN CORPORATION (ACEN) headquartered in Singapore, has finalized a significant deal, securing a maiden $100 million green term loan facility from MUFG Bank, Ltd. (MUFG), a part of the Mitsubishi UFJ Financial Group (MUFG).

This investment marks a pivotal moment for ACEN’s expansion into renewable energy projects beyond the Philippines, directing funds towards international growth and development initiatives. The funding, coordinated through a green long-term facility by MUFG, is aligned with ACEN’s strategic vision aiming to achieve 20 GW of renewables by 2030.

MUFG, acting as the exclusive arranger and green loan coordinator, facilitated this term loan, set over a five-year period, and integrated within ACEN’s established green finance framework.

The MUFG facility supplements ACRI’s ongoing fundraising endeavors, where current approvals total up to US$422 million. The intended utilization of these funds is projected within the next two years.

Cecile Cruzabra, ACEN treasurer, emphasized the significance of the partnership with MUFG, highlighting its role in advancing ACEN’s global renewable energy portfolio. This injection of funding propels ACEN closer to realizing a greener and more sustainable future, extending beyond the Philippines.

Randy Loo, MUFG’s head of global corporate banking in Singapore, expressed optimism about the transaction, emphasizing the deepening alignment between MUFG and ACEN’s sustainability goals. He highlighted MUFG’s commitment to leveraging its expertise in renewables financing to support ACEN’s ambitious 2030 renewables target.

Colin Chen, MUFG’s head of ESG finance for APAC, underscored the significance of renewable energy in Asia’s decarbonization journey. This landmark transaction not only signifies ACEN’s progress but also contributes essential renewable energy capacity towards a carbon-neutral future, aligning with MUFG’s comprehensive approach towards regional transition to Net Zero.

ACEN reiterates its commitment to spearheading the region’s renewable energy domain. With this substantial funding secured, ACEN is well-positioned to realize its strategic objectives and make substantial contributions to the ongoing energy transition endeavors.