ACEN draws $55.8M ING loan to fund 8GW renewables push
What's the deal? ACENDealroom has a profile for this one. Try Dealroom →, the listed energy platform of the Philippines' Ayala groupDealroom has a profile for this one. Try Dealroom →, has secured a 3.5-billion-peso (about $55.8 million) term loan from ING Bank, N.V., Manila BranchDealroom has a profile for this one. Try Dealroom → to fund renewable energy projects and general corporate purposes. Its subsidiary ACEN InvestmentsDealroom has a profile for this one. Try Dealroom → signed the facility, with ING Bank's Singapore branch acting as agent, according to a stock exchange disclosure.
Why now? The loan comes as ACEN pushes to exceed 8GW of attributable renewable capacity by year-end, up from 7.5GW currently in operation, under construction, or covered by signed agreements. It has earmarked more than 80 billion pesos for capital expenditure in 2026 to fund projects at home and abroad.
What's the endgame? ACEN operates across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the US. Chief executive officer Eric T. Francia said the company's priorities are "protecting our balance sheet, growing our contracted energy sales, and expanding our energy storage asset base."
By the numbers: ACEN reported attributable net income of 3.9 billion pesos, about five times the 763 million pesos a year earlier. But statutory net debt rose to 168.4 billion pesos as funding flowed to projects under construction.
Why it matters: The deal deepens an existing relationship — ING extended a similar €50-million loan to ACEN subsidiary ACEN InternationalDealroom has a profile for this one. Try Dealroom → in May last year. ACEN shares rose 2.66% to close at 2.70 pesos on Tuesday.
The signal: As one of Southeast Asia's largest listed renewables platforms funds an aggressive capacity build, overseas bank financing is becoming a core lever — even as rising debt tests the balance sheet behind the expansion.
Read more: bworldonline.com
Image credit: moonjazz
