ACEN Australia has secured AUD 750 million to fund its 13 GW of renewable energy project pipeline
It will support diverse technologies, including solar, wind, BESS and pumped hydro
Financing volume has been pooled in by Australian and international investors
Ayala Group-backed renewable energy developer ACEN Australia has raised AUD 750 million ($474 million) to support the development of its 13 GW strong project pipeline across the National Electricity Market (NEM).
This pipeline comprises wind, solar, pumped hydro and battery energy storage system (BESS) projects. The proceeds will also cover more than 1 GW of renewable energy capacity in operation and under construction.
“Our ability to attract top-tier financial partners reinforces our position as a trusted, long-term developer, owner and operator of assets, and reflects growing investor appetite for high-quality, renewable infrastructure in Australia,” said ACEN Australia’s Managing Director, David Pollington.
It raised the proceeds from a consortium of Australian and international lenders, namely ANZ Banking Group; Commonwealth Bank of Australia; CTBC Bank Co. Ltd, Singapore Branch; CTBC Bank (Philippines) Corp.; Cathay United Bank; Deutsche Bank AG, Sydney Branch; DBS Bank Ltd, Australia Branch; Hongkong and Shanghai Banking Corp. Ltd, (HSBC) Sydney Branch; MUFG Bank, Ltd; Sumitomo Mitsui Banking Corporation, Sydney Branch; UOB; and Westpac Banking Corporation.
ACEN Australia had earlier stated that out of the 13 GW development pipeline, it targets more than 8 GW to be in construction or operation by 2030 (see Asia Pacific PV News Snippets: New Zealand Solar Farm Bags Financing Package & More).
.png?w=50&fm=png){kind=logo}