ACEN, the renewable energy arm of Philippine conglomerate the Ayala Corporation through its subsidiary ACEN Renewables International, has secured a US$150 million green term loan facility from Japan’s Sumitomo Mitsui Banking Corporation Singapore (SMBC).

The loan, which was arranged by SMBC acting both as lender and green loan coordinator, has a tenure of five years. The energy firm aims to use the proceeds to enable its strategic expansion into several key international markets, including to Australia.

The deal marks the first partnership between the firm and the bank, and is in line with ACEN’s ongoing efforts to finance investments in renewable power projects across the region as the firm moves towards achieving its goal of producing 20 gigawatts of renewable power by 2030.

“SMBC is proud to extend our support for ACEN Renewables International in its push for a greener future,” says Hideo Uchida, the bank’s executive officer for corporate banking in Asia-Pacific. “This deal underscores the strength of our relationship and our shared commitment to supporting the Asia-Pacific region’s transition towards a net-zero aligned future.”