ACEN secures P5-billion loan from Metrobank

ACEN Corp., the listed energy platform of the Ayala Group, said Monday it secured a P5 billion loan facility from Metropolitan Bank & Trust Co. for its renewable energy projects.

The company said the transaction was related to the disclosure it made on March 8 on the board’s approval to procure additional credit facilities of up to P32 billion.ACEN expects set to reach its 5,000-megawatt goal within the year, two years ahead of its 2025 target. ACEN’s latest investment involves a 335 MW onshore wind power project located in the provinces of Laguna and Quezon.

Source: Loan Digest (loandigest.net)

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