HomeRenewable energy ›CEFC Backs Clean Energy Developer ACEN to Develop 8 GW Renewables Portfolio

CEFC Backs Clean Energy Developer ACEN to Develop 8 GW Renewables Portfolio

Renewables developer ACEN and the CEFC have joined forces to develop large-scale clean energy assets across Australia, powered by a $75 million CEFC investment that will accelerate an 8 GW clean energy portfolio that includes solar, wind, battery and pumped hydro.

November 03, 2022. By News Bureau

Renewables developer ACEN and the CEFC have joined forces to develop large-scale clean energy assets across Australia, powered by a $75 million CEFC investment that will accelerate an 8 GW clean energy portfolio that includes solar, wind, battery and pumped hydro.

The CEFC finance is part of an ACEN Australia debt raise targeting AUD [$600] million and follows an AUD$140m long-term, green loan agreement with Japanese lender MUFG and a AUD$100m facility agreement with DBS Bank.

ACEN is the listed energy platform of Philippine diversified group Ayala, with an 18 GW development portfolio throughout the Asia Pacific region. ACEN Australia will use the loan to further develop its portfolio of Australian clean energy assets.

ACEN Australia CEO Anton Rohner said: "ACEN Australia is pleased to be working with the CEFC in decarbonising Australia. The debt facilities provided will allow ACEN Australia to expedite our fully developed 400MW Stubbo Solar project. The project has signed key agreements including Connection Agreements with Transgrid, with other construction and panel agreements about to signed. Together with a commitment to Stubbo Solar from the ACEN Board in early October the project is expected to be in construction in January 2023."

ACEN International COO Patrice Clause said: "CEFC plays a critical role in helping us enable renewable developments in Australia. The world is geared towards net zero, and collaboration across industries and the society is vital in this journey. ACEN is at the forefront of this decarbonization movement, and aim to deliver 20 GW of renewable energy capacity by 2030."

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