ACEN Corporation and its subsidiaries, ACEN Global Development Group, Inc. and GIGA ACE 6, Inc. have signed a Php 34.41 billion loan agreement to help finance the 344.5 megawatt peak (MWp) Quezon North Onshore Wind Power Project.
In a regulatory filing, the firm explained that the financing will partially fund the development of the wind project, formerly known as Isla Wind, which spans the municipalities of Mauban and Real in Quezon and Paete and Kalayaan in Laguna.
“for a senior secured green term loan facility, in the amount of up to Php34.41 billion, to partially finance GA6’s 344.5 MWp Quezon North Onshore Wind Power Project (formerly Isla Wind) located in the Municipalities of Mauban and Real, Province of Quezon, and the Municipalities of Paete and Kalayaan, Province of Laguna,” said ACEN.
The Bank of the Philippine Islands, BDO Unibank, Inc., and Rizal Commercial Banking Corporation are providing the funding, with BDO Unibank’s Trust Investment Group serving as the facility agent, paying agent, and security trustee.
As a senior secured green term loan facility, the funding aligns with ACEN’s commitment to expanding renewable energy capacity and supporting the Philippines’ transition to clean power.
The project is part of ACEN’s broader efforts to accelerate renewable energy development and contribute to the country’s sustainable energy future.
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