ACEN Corporation Secures US$150M Green Term Loan Facility from Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Banking Corporation Singapore Branch (SMBC) and ACEN Corporation have inked a US$150 million green term credit facility through ACEN Renewables International (ACRI), a subsidiary of ACEN Corporation. This calculated financial action is consistent with ACEN's continuous endeavors to provide funding for renewable energy projects around the area.

SMBC arranges the five-year green term loan and serves as both the lender and the coordinator of green loans. With this agreement, ACEN and the financial institution are forming their first cooperation, which ushers in a new phase in their quest to achieve 20 GW of renewable energy by 2030.

With the loan, ACEN hopes to make it possible for it to strategically enter Australia and other important foreign markets.

​ACEN’s group treasurer, Cecile Cruzabra, commented: “We are very pleased with the closing of this landmark US$/AU$ dual-currency loan with SMBC. This benchmark deal not only lends support to our momentum in expanding our international business, but is also a testament to the faith our banking partners place in our ability to execute on our vision. This facility is a strategic addition to ACEN’s portfolio of Green Financings aimed at fulfilling our contribution to achieving Net Zero commitments.”

Executive Officer, Corporate Banking Asia Pacific, Hideo Uchida, said: “SMBC is proud to extend our support for ACEN Renewables International in its push for a greener future. This achievement underscores the strength of our relationship and our shared commitment in supporting the Asia Pacific region’s transition towards a Net Zero aligned future. As we celebrate the success of this closing, we look forward to our continued partnership with all our clients on their transition journey in achieving their sustainability ambitions.”

Head of Renewables, Utilities & Infrastructure Sector Banking Asia, Zia Azeez, added: “This financing is a continuation of our partnership with ACEN across multiple renewable projects in the region, commencing with their first overseas project in Indonesia some years back. We look forward to continuing this journey with ACEN as they march towards 20 GW of green power by 2030.”

ACEN Corporation is the listed energy platform of the Ayala Group. The company has around 4,800 MW of renewable energy capacity in operations and under construction across its key markets in the Philippines, Australia, Vietnam, India, and Indonesia. As one of the fastest-growing platforms for renewable energy in the Asia Pacific region, ACEN aims to increase its renewable capacity to 20 GW by 2030. This goal will help provide clean, reliable, and affordable energy to more people. ACEN is committed to achieving its goal of 100% renewable energy in its generation portfolio by 2025 and becoming a Net Zero greenhouse gas emissions company by 2050.​