Philippines-based ACEN Corporation has secured USD100 million in debt to achieve its target of 20 GW of installed renewable energy by 2030.
The five-year green-term loan facility will be extended to ACEN Renewables International Private Limited by MUFG Bank Limited. Mitsubishi UFJ Financial Group (MUFG) is the transaction’s sole arranger and green loan coordinator. Around 8 GW of the targeted 20 GW will be developed in the Philippines. The company has secured approvals for up to USD422 million on term financing, in addition to the two-year long MUFG debt.