The Ayala Group’s ACEN Corp. has secured its largest funding so far from major international banks, this time totaling 277 million Australian dollars, which it says will be used to expand its renewable energy imprint in Australia. | jordeenelagare /PDI
These are the New England Solar, New England Battery, Stubbo Solar and Valley of the Winds projects in the New England and Central-West Orana Renewable Energy zones, as well as Robbins Island and Jim’s Plain Wind project in North West Tasmania.
For this transaction, BOCHK was the green loan structuring bank while Commonwealth Bank of Australia acted as the agent for the syndicated green term loan facility.Herbert Smith Freehills served as the legal counsel for ACEN Australia and King & Wood Mallesons for the lenders. This is by far the biggest funding obtained by ACEN, surpassing other loans it got last year from various financial institutions: 140 million Australian dollars from MUFG Bank Ltd., Sydney branch; 100 million Australian dollars from DBS Bank Ltd., Australia branch and 75 million Australian dollars from Clean Energy Finance Corp.
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