AYALA-LED ACEN Corp. said its subsidiary ACEN Australia Pty. Ltd. has secured an A$750-million loan from various financial institutions, which will allow it to fund its energy projects in Australia.
Eleven Australian and international lenders backed the transaction, providing ACEN Australia with financial support for its pipeline projects, the company said in a stock exchange disclosure on Tuesday.
These institutions comprise ANZ Banking Group; Commonwealth Bank of Australia; CTBC Bank Co. Ltd, Singapore Branch; CTBC Bank (Philippines) Corp.; Cathay United Bank; and Deutsche Bank AG, Sydney Branch.
Also included are DBS Bank Ltd, Australia Branch; Hongkong and Shanghai Banking Corp. Ltd (HSBC), Sydney Branch; MUFG Bank, Ltd; Sumitomo Mitsui Banking Corporation, Sydney Branch; UOB; and Westpac Banking Corp.
Macquarie Capital and Morgan Stanley were joint financial advisors to the transaction. Allens was the legal adviser for ACEN Australia, and Herbert Smith Freehills was the legal adviser for the lenders.
ACEN said the fresh capital injection will support the operation of clean energy assets and the financing of new ones, including the 520-megawatt direct current (MWdc) Stubbo Solar project in New South Wales.
ACEN Australia Managing Director David Pollington said the financing “establishes a robust funding base” for the company’s renewable portfolio of wind, solar, pumped hydro, and battery storage projects, in addition to the more than 1,000 MW of renewable capacity in operation and under construction across the National Electricity Market.
“Our ability to attract top-tier financial partners reinforces our position as a trusted, long-term developer, owner, and operator of assets, and reflects growing investor appetite for high-quality renewable infrastructure in Australia,” Mr. Pollington said.
ACEN Australia Chief Financial and Investments Officer Phillip Mak said the transaction “demonstrates the company’s ability to independently access and structure competitive capital solutions” as a key portfolio business of its listed parent, ACEN Corp.
“This transaction strengthens our funding platform, accelerates our delivery pipeline, and positions us as a capable partner backed by a stable and diverse capital base,” Mr. Mak said.
ACEN, the Ayala Group’s listed energy platform, currently has 7 gigawatts of attributable renewable energy capacity across operational, under-construction, and committed projects.
It operates in multiple markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States. — Sheldeen Joy Talavera