13 December 2023 – ACEN, the Ayala group's listed energy platform, announced today that it has signed an PhP11 billion sustainability-linked loan facility with the Asian Development Bank (ADB) and the Bank of the Philippine Islands (BPI). The loan, which includes a partial credit guarantee by ADB, underscores ACEN’s integrated sustainability approach and commitment to renewable energy development. It will finance ACEN’s solar projects, propelling ACEN further as a leader in the energy transition.
Eric Francia, ACEN president and CEO, emphasized the significance of the sustainability-aligned loan, stating: "This financing is not just a loan; it is a clear testament of our unwavering commitment to our sustainability ambitions as we set the stage for accelerated growth in the renewables sector. ACEN currently has ~4,500 MW of attributable capacity, and this loan is an instrumental step towards our ambitious target of reaching 20 GW by 2030."
Cora Dizon, ACEN chief finance officer, added: "ACEN’s maiden sustainability-linked loan exemplifies our strategic financing approach, one that places environmental, social, and governance (ESG) initiatives at the forefront. This loan aligns with our priorities and enables us to consistently invest in sustainable energy infrastructure towards our net zero transition goal."
ACEN has been a driving force in the development of new renewable energy projects in its core market, the Philippines, and across the region, utilizing various capital-raising initiatives to strengthen the company’s balance sheet.
The loan aligns with ACEN's aspiration to become the largest listed renewables platform in Southeast Asia and will contribute to the development of solar projects .
Cecile Cruzabra, ACEN treasurer, said: “The partnership among ACEN, ADB, and BPI represents more than just a financial collaboration but also a shared commitment to renewable energy development and a joint mission to achieve net zero GHG emissions, towards a sustainable future for all.”
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure. |
About ACEN ACEN (PSE:ACEN) is the listed energy platform of the Ayala Group. The company has ~4,500 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 98%, which is among the highest in the region. ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. ACEN is committed to transition the company’s generation portfolio to 100% renewable energy by 2025 and to become a Net Zero greenhouse gas emissions company by 2050.
For inquiries and more information, please contact:
Irene Maranan Head – Corporate Communications and Sustainability Email: [email protected] |