ACEN targets 8GW renewables portfolio with CEFC funding

Weather-monitoring sensors on solar panels (ACEN)
Image: Stubbo Solar Farm

ACEN Australia is working to deliver an 8GW portfolio of clean energy projects as part of its parent company’s broader plans to reach 20 GW of renewable energy capacity by 2030.

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The Clean Energy Finance Corporation (CEFC) has committed $75 million to an ACEN Australia $600 million debt raising. The debt financing follows a $140 million long-term, green loan agreement with Japanese lender MUFG and a $100 million facility agreement with DBS Bank.

The ACEN Australia loan facility complies with parent company ACEN Corporation’s Green Finance Framework. It is structured to be classified as “Green Loans” under the Loan Market Association Green Loan Principles 2021.

ACEN is the listed energy platform of Philippine diversified group Ayala, which has an 18 GW development portfolio throughout the Asia Pacific region. 

ACEN is aiming to deliver 20 GW of renewable energy capacity by 2030 and has a commitment to achieve net zero emissions by 2050.

The CEFC investment in ACEN clean energy assets is part of its commitment to help deliver assets that are critical to reaching net zero emissions by 2050.

ACEN Australia has more than 1.5 GW of projects under construction or at an advanced stage of development, including:

  • Stubbo Solar Project, NSW
  • Birriwa Solar and battery project, NSW
  • Valley of the Winds wind farm, NSW
  • New England Solar Farm, NSW
  • Aquila Wind Farm, NSW
  • Robbins Island and Jim’s Plain Wind energy parks, Tas
  • North East Wind project, Tas
  • Axedale Solar Farm, Vic.

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“This CEFC facility will help ACEN get to 4,000MW of attributable capacity before the end of this year, closer to its goal of 5000MW by 2025. The world is geared towards net zero, collaboration across industries and the society is vital in this journey,” ACEN COO Patrice Claus said.

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