ACEN Corp. said Tuesday its unit ACEN Australia tapped 11 international lenders to raise Au$750 million to finance its operating renewables assets and new projects in Australia, cementing its position as a long-term investor in the country’s clean economy.
ACEN said in a statement to the stock exchange the transaction supports the financing of ACEN Australia’s nearly-complete 520 MWdc (400 MWac) Stubbo Solar project in NSW and follows first generation from Stage 1 of the company’s 521 MWdc (400 MWac) New England Solar project in 2023.
It said the transaction broadens ACEN Australia’s financial partnerships and underscoring strong market confidence in the company’s track record and growth strategy.
Financial institutions involved in the transaction include 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 Corp.- Sydney Branch, UOB and Westpac Banking Corp.
ACEN Australia managing director David Pollington said the financing establishes a robust funding base for the company’s wind, solar, pumped hydro and battery storage projects, including more than 1,000 megawatts of renewable capacity in operation and under construction across the National Electricity Market.