ACEN secures P5B loan for India wind project

ACEN Corp., the listed energy platform of the Ayala Group, has secured about INR 7.517 billion or around P5.05 billion in project financing to advance its expansion in India.

The company said Wednesday that the new funding will support the construction of a 100-megawatt wind project, expanding its renewable energy portfolio and long-term presence in India.

Phase 1 financing

The loan, secured through Diyos Renewables India Project Private Limited, will partially finance phase 1 of the Bijapur Wind project in Karnataka. The facility was arranged with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation.

“Securing this project finance facility underscores the strong confidence of global financial institutions in ACEN’s renewable energy platform and our disciplined approach to developing high-quality projects,” said Patrice Clausse, Group chief investment officer and president and CEO of ACEN International.