ACEN Corp.’s 720-megawatt (MW) New England solar farm in Australia is slated to be operational by next year.
ACEN Australia serves as the platform for the Ayala family’s renewable energy assets in Australia.
These assets include several solar, wind, battery, pumped hydro and energy storage projects across New South Wales, Tasmania, Victoria and South Australia in development and construction.
To support its projects in Australia, ACEN aims to raise over AUD600 million.
ACEN Australia and MUFG Sydney Branch recently executed a facility agreement for up to AUD 140 million green long-term loan facility.
This is the second loan facility secured by ACEN Australia following the signing of an AUD100 million facility with DBS Bank last month.
“MUFG has been steadfast in leveraging its unrivalled global network and its expertise in financing the renewable energy sector,” MUFG Bank’s global head of subsidiary banking Manoj Bhatia said.
“ACEN’s aspiration towards becoming a leading renewable energy provider in Asia is aligned with MUFG’s sustainability mission, and we are privileged to partner with the company in its commitment towards building a sustainable future,” Bhatia added.
ACEN aspires is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW in renewables capacity by 2030.