ACEN Australia Secures AUD750M for Solar, Wind Projects

ACEN Australia has secured AUD750 million in debt financing to support its expanding portfolio of renewable energy projects, marking a significant milestone in the company’s push toward Australia’s clean energy transition.

The financing package, backed by 11 leading domestic and international banks, will fund the completion of major developments such as the Stubbo Solar project in New South Wales and expand the company’s capacity across solar, wind, hydro, and battery storage sectors.

“This transaction strengthens our funding platform, accelerates our delivery pipeline, and positions us as a capable partner backed by a stable and diverse capital base,” said Phillip Mak, ACEN Australia’s chief financial and investments officer.

The deal will help complete the 520-megawatt direct current (MWdc) Stubbo Solar project, which has a net alternating current capacity of 400 MW and is nearing final stages of construction.

It also builds on the operational momentum of the 521 MWdc New England Solar project, which began generating electricity in 2023.

“Our ability to attract top-tier financial partners reinforces our position as a trusted, long-term developer, owner and operator of assets,” said ACEN Australia Managing Director David Pollington. “It reflects growing investor appetite for high-quality, renewable infrastructure in Australia.”

Participating lenders in the deal include ANZ, Commonwealth Bank, CTBC Bank (Singapore and Philippines), Cathay United Bank, Deutsche Bank, DBS, HSBC, MUFG, Sumitomo Mitsui, UOB, and Westpac.

The funding enhances ACEN Australia’s diversified renewable energy pipeline, which now has over 1,000 MW of capacity either operating or under construction across the National Electricity Market.

The firm’s growing footprint supports both regional development and national decarbonization goals, aligning with Australia’s broader emissions reduction targets.

ACEN Australia is the subsidiary of ACEN Corp., the listed energy platform of Ayala Corporation, one of the Philippines’ largest conglomerates.

The AUD750 million package is equivalent to approximately PHP28.1 billion, based on current exchange rates, and underscores the global financial community’s trust in ACEN’s long-term sustainability strategy.

As Australia accelerates its energy transition, renewable investment has become critical to replacing retiring coal assets and achieving net-zero emissions by 2050.

According to the Clean Energy Council of Australia, investment in large-scale renewable projects exceeded AUD4.5 billion in 2023, signaling strong market momentum for clean energy infrastructure.

ACEN’s financing deal adds to this momentum, reinforcing its position as a key player in Australia’s low-carbon future.