ACEN Corporation has signed a PHP1.92 billion loan agreement with its subsidiary, Santa Cruz Solar Energy Incorporation, to support the third phase of the San Marcelino solar project in Zambales in the Philippines.
The funding will cover capital expenditures for the project, which, upon completion, aims to boost its total capacity to 585 MW. The first two phases have already contributed 385 MW to the Luzon grid since January 2024. In addition, ACEN has invested PHP467.75 million in Belenos Energy Corporation to support its future renewable energy initiatives. The company, through ACEN Renewables International Private Limited, also secured a USD150 million green loan and credit facility led by Taiwan-based CTBC Bank Group. ACEN currently has around 4.8 GW of renewable energy capacity either operational or under construction, with over 1 GW from recent agreements and tenders.