ACEN said that, as a guarantor to ACEN Australia Pty Ltd., it executed a common provisions agreement and a facility agreement between ACEN Australia and DBS Bank Ltd.’s Australia branch for a 100 million Australian dollars (about P3.9 billion) in long-term revolving green loan facility. This is part of ACEN’s goal of raising more than AU$600 million to support the development of its projects in Australia. DBS was the sole arranger and sustainability adviser for the green loan facility which, according to ACEN, will provide capital financing for its eligible green assets in Australia, the first within the Ayala group.
The initial green loan facility with DBS will help advance our fund-raising capacity of over 600 million Australian dollars to develop and construct existing and additional pipeline of renewable energy projects in Australia. ACEN is undertaking the 50-MW, one hour battery energy storage system (BESS) adjacent to its solar farm in New South Wales which, according to the company, will address the intermittency of renewable energy. It is backed by an AU$12.5-million state government grant. The company has lined up 18 GW of projects to be built across the region. At present, it has about 4,000 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia.