AC Energy raises nearly $1B as it goes all out on renewable energy

AC Energy raises nearly $1B as it goes all out on renewable energy

The Ayala family’s energy platform, AC Energy Corp. has already raised a total of $967.6 million in fresh capital this year, further boosting its war chest for expansion.

“The success of this fixed-for-life offering highlights the international investor community’s continuing confidence in ACEN and in our strategic objectives,” said ACEN president and CEO Eric Francia.

AC Energy raises $400M from green bonds

AC Energy is keen on making giant strides in the RE sector following the successful issuance of $400 million in green bonds by wholly owned unit ACEN Finance Ltd.

AC Energy to issue green bonds anew

The senior guaranteed undated fixed-for-life green bonds have a fixed coupon of four percent for life, with no step-up and no reset.

Proceeds from the issuance will be used to scale up its renewable energy portfolio to 5,000 megawatts by 2025.

The company is working on offshore wind energy and geothermal energy projects with direct emissions of less than 100gCO2/kWh.

AC Energy has conducted a string of capital-raising activities this year to achieve its goal to become the largest publicly-listed RE player in the country and the rest of Southeast Asia.

AC Energy converts P680M advances into equity

“We believe that this green bond issuance will further empower us to scale up RE investments and achieve our vision of becoming the largest listed renewable energy platform in Southeast Asia,” Francia said.

AC Energy to build PH’s largest wind farm

It raised ₱5.4 billion ($111.2 million) from a stock rights offering, ₱10.3 billion ($212.2 million) follow-on offering (FOO), and ₱11.9 billion ($244.2 million) primary share investment by GIC affiliate Arran Investment Pte. Ltd.(Arran).

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