ACEN Corporation is seeking a PHP5.5 billion loan from the Asian Development Bank (ADB) to develop solar photovoltaic (PV) projects in the Philippines. The company is also seeking a partial credit guarantee of PHP1.1 billion. The loan and guarantee will be a sustainability-linked facility with performance indicators on environmental and social matters.
The project will contribute to poverty reduction through clean and sustainable electricity to support productivity as well as improve the quality of life by reducing greenhouse gas (GHG) emissions and improving air quality.
The proposal will be up for approval on October 20, 2023.
