ACEN, through its subsidiary ACEN Renewables International (ACRI), has signed a USD 150 million green-term loan facility with the Singapore arm of Sumitomo Mitsui Banking Corporation (SMBC).
In its statement, ACEN envisioned its strategic expansion to stretch throughout international markets such as Australia.
“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,” ACEN Group Treasurer Cecile Cruzabra said.
The green term loan would span five years with SMBC playing the dual role of lender and green loan coordinator. This initial partnership between ACEN and SMBC was parallel to the corporation’s efforts to achieve 20 gigawatts (GW) of renewable energy (RE) under its belt by 2030.
Corporate Banking Asia Pacific Executive Officer Hideo Uchida said that SMBC is pleased to extend its support to ACEN as the firm geared towards a greener future.
Uchida further added that this collaboration emphasized their collective dedication to assist in the Asia Pacific region’s shift to Net Zero.
Meanwhile, Utilities & Infrastructure Sector Banking Asia Head of Renewables Zia Azeez said that this is the onset of numerous sustainable projects in the region, beginning with its initial overseas project in Indonesia.
“We look forward to continuing this journey with ACEN as they march towards 20 GW of green power by 2030,” Azeez said.
