ACEN secures €50M loan from ING Bank for renewables

Ayala-led ACEN Corp. secured a €50 million (P3.1 billion) credit facility with ING Bank N.V. Manila Branch to support its international expansion.

The financing will be used for existing and upcoming renewable power projects, including the 520-megawatt Stubbo solar project in New South Wales, as well as general corporate purposes.

ACEN Australia recently secured P27 billion in debt financing from global lenders to fund green energy projects such as large-scale solar, battery, and pumped hydro projects across Australia.

Three major ACEN Australia projects in New South Wales have obtained access rights to the Central West-Orana Renewable Energy Zone (CWO REZ) for connecting to new transmission assets.

ACEN's international portfolio contributed positively to its financial performance in the first quarter of 2025, despite a decline in Philippine operations.

The company aims to scale up its attributable renewables capacity from seven gigawatts to 20 GW by 2030.