ACEN Secures US$150 Million Five-Year Syndicated Green Term Loan from International Banks

ACEN, through its subsidiary ACEN Renewables International Pte. Ltd., has secured a five-year syndicated green term loan and revolving credit facility amounting to US$150 million.

A consortium of leading international financial institutions has participated in this transaction, reflecting strong market confidence in ACEN’s robust renewable energy pipeline across the region. CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. acted as the structuring bank and arranger, respectively, forming a strategic alliance with five banks – Singapore branches of CTBC Bank Co., Ltd., Malayan Banking Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, and Mega International Commercial Bank Co., Ltd.

The proceeds from this syndicated green loan will support ACEN’s expanding presence in the Asia Pacific. The company boasts approximately 4.8 GW of attributable renewables capacity in operation and under construction, alongside signed agreements and won competitive tenders worth over 1 GW. ACEN has already surpassed its original target of achieving 5 GW of renewables by 2025.

Cecile Cruzabra, ACEN group treasurer, commented: “The participation of various international banks in this transaction, including 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.”

Mike Albotra, SVP of institutional banking group at CTBC Bank (Philippines) Corp., stated: “Our introduction of ACEN to Taiwanese investors last year paved the way for this much-anticipated transaction, which we are honored to have successfully arranged. We believe in ACEN’s vision and aspiration to achieve 20 GW capacity by 2030. The strong support from the banks reflects their commitment to sustainability goals and reducing the threat of rising global temperatures. CTBC Bank looks forward to continuing our partnership with ACEN in its journey to power communities sustainably.”

Sunny Sng, head of corporate banking 1 at CTBC Singapore branch, added: “CTBC is deeply honored to be trusted by ACEN Corporation to lead arrange ACRI’s first syndicated Green Loan Facility. We are pleased that the US$100 million syndicated five-year Green Loan Facility was oversubscribed and closed at US$150 million with four other lenders: Maybank, Land Bank of Taiwan, Chang Hwa Commercial Bank, and Mega International Commercial Bank. Together, the bank syndicate is committed to supporting ACEN in growing its international portfolio and achieving its goal of 20 GW of renewable capacity by 2030.”