ACEN taps P10-B loan to fund 2030 goal

MANILA -Ayala-led ACEN Corp. has secured a P10-billion loan to fund its aggressive renewable energy expansion across the Asia-Pacific as it races to reach its 2030 goal.

In a stock exchange disclosure on Thursday, ACEN, the listed energy platform of the Ayala group, said the term loan facility was part of its P32-billion fundraising plan first announced in March.

At that time, ACEN president and chief executive John Eric Francia unveiled the company’s goal of expanding its renewable energy portfolio to 20 gigawatts (GW) by 2030 from the current 4.4 GW.

Forty percent of the 4.4-GW total, or about 1.7 GW, is covered by its local facilities, and the remaining 60 percent comes from …

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