General Announcement::CEFC backs clean energy developer ACEN to develop 8 GW renewables portfolio

Issuer & Securities

Issuer/ Manager
AC ENERGY FINANCE INTERNATIONAL LIMITED
Securities
AC ENER FINUS$110M5.25%N290212 - XS1946107007 - IDTB
AC ENER FINUS$225M4.75%N240129 - XS1940840132 - OEHB
AC ENER FIN US$300M5.1%N - XS2258819874 - RKIB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-Oct-2022 12:41:42
Status
New
Announcement Sub Title
CEFC backs clean energy developer ACEN to develop 8 GW renewables portfolio
Announcement Reference
SG221028OTHRDIUE
Submitted By (Co./ Ind. Name)
ACEN CORPORATION / Irene S. Maranan
Designation
Head, Corporate Communications and Sustainability
Description (Please provide a detailed description of the event in the box below)
28 October 2022 - Renewables developer ACEN and the CEFC have joined forces to develop large-scale clean energy assets across Australia, powered by a $75 million CEFC investment that will accelerate an 8 GW clean energy portfolio that includes solar, wind, battery and pumped hydro.

The CEFC finance is part of an ACEN Australia debt raise targeting AUD [$600] million and follows an AUD$140m long-term, green loan agreement with Japanese lender MUFG and a AUD$100m facility agreement with DBS Bank.

ACEN is the listed energy platform of Philippine diversified group Ayala, with an 18 GW development portfolio throughout the Asia Pacific region. ACEN Australia will use the loan to further develop its portfolio of Australian clean energy assets.

ACEN Australia has more than 1.5 GW of projects at an advanced stage of development, including the New England Solar project currently under construction, New England Battery, Stubbo Solar and Valley of the Winds projects in the NSW New England and Central-West Orana Renewable Energy Zones, as well as the Robbins Island and Jim's Plain Wind project in North-West Tasmania.

The ACEN Australia loan facility complies with parent company ACEN Corporation's Green Finance Framework. In a move designed to build confidence in the market, it is structured to be classified as a "Green Loan" under the Loan Market Association Green Loan Principles 2021.


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About the CEFC

The CEFC is a specialist investor at the centre of efforts to help deliver on Australia's ambitions for a thriving, low emissions future. With a strong investment track record, we are committed to accelerating our transition to net zero emissions by 2050. In addressing some of our toughest emissions challenges, we are filling market gaps and collaborating with investors, innovators and industry leaders to spur substantial new investment where it will have the greatest impact. The CEFC invests on behalf of the Australian Government, with a strong commitment to deliver a positive return for taxpayers across our portfolio.


About ACEN

ACEN is the listed energy platform of the Ayala Group. The company has ~4,000 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share of 87%, which is among the highest in the region.

ACEN's aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. In 2021, ACEN announced its commitment to achieve Net Zero greenhouse gas emissions by 2050. This will involve the early retirement of its remaining coal plant by 2040 and transition the company's generation portfolio to 100% renewable energy by 2025.

ACEN - www.acenrenewables.com
ACEN Australia - www.acenrenewables.com.au


For inquiries and more information, please contact:
Irene Maranan
Head - Corporate Communications and Sustainability
Email: maranan.is@acenergy.com.ph



DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN's plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward- looking statements included in this disclosure.

Attachments

PR - CEFC backs clean energy developer ACEN to develop 8 GW renewables portolio.pdf
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