IREDA’s Profits Surge 46% YoY in Q4 FY 2024 as NPAs Drop

EV Logistics Firm BluWheelz Raises $1 Million in Bridge Funding

Solar Module Manufacturer Premier Energies Files DRHP for ₹15 Billion IPO

Amara Raja Wins BoS Contract for 500 MW Solar Project from Greenko

Sterling and Wilson Posts Profit After 3 Years, Benefits from Falling Module Prices

Swelect, Grew and ReNew Win SECI’s Auction to Supply 400 MW Solar Modules

Solar Sector Records 81% Drop in VC Funding in Q1, Corporate Funding Down by 4%

High Interest Rates Affect Subsidies, Capital Costs of Renewables: Report

Threat of US Anti-Dumping Duties on Indian Solar Module Exports

Daily News Wrap-Up: RECPDCL’s Tender for 223 MW Solar Projects

<p><a href="https://www.acenergy.com.ph/" target="_blank" rel="noopener noreferrer">AC Energy</a>, the energy platform of Philippines-based <a href="https://www.ayala.com.ph/" target="_blank" rel="noopener noreferrer">Ayala Corporation</a>, has launched its non-deferrable green bonds.</p>
<p>The aggregate principal amount is $400 million, with a fixed coupon of 5.6% for life. This marks the first-ever dollar-denominated fixed-for-life green bond ever issued in the world, according to the company.</p>
<p>The bonds are set to be listed on the Singapore Exchange Limited (SGX-ST) and have been certified under the ASEAN green bonds standards set up by the Philippines Securities and Exchange Commission.</p>
<p>AC Energy is planning to use the funds for the expansion of renewable energy across the Asia Pacific region, which includes the Philippines, Indonesia, Vietnam, India, Myanmar, and Australia, among others.</p>
<p>Commenting on the latest move, CEO of AC Energy, Eric Francia, said, “We expect to add well over 1 GW of renewables capacity in 2020, and this fresh capital will further cement AC Energy’s commitment towards renewable energy and sustainability and will support the company’s scaling up of renewable energy investments in the Asia Pacific.”</p>
<p>Out of the company’s total of 1.6 GW of attributable capacity, 600 MWs come from renewable energy sources. The company is aiming at achieving 5 GWs of due renewable energy that would account for 50% of the total energy capacity by 2025.</p>
<p>Earlier this year, the International Finance Corporation (<a href="https://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home" target="_blank" rel="noopener noreferrer">IFC</a>) <a href="https://mercomindia.com/ifc-investment-75-million-ac-energy-green-bond/" target="_blank" rel="noopener noreferrer">announced</a> that it had committed an investment of $75 million (~₹5.3 billion) in the first-ever listed green bond issued and guaranteed by AC Energy. IFC’s investment anchored a $300 million (~₹21.4 billion) green bond, attracting interest from international and Philippine’s institutional and bank investors. It was the first climate bond certified infrastructure-focused green bond to be publicly listed in Southeast Asia.</p>
<p>Previously, it was <a href="https://mercomindia.com/adb-invests-20-million-ac-energys-first-climate-bond/" target="_blank" rel="noopener noreferrer">reported</a> that the Asian Development Bank (ADB) had invested $20 million in the first climate bond issuance of AC Energy. ADB acted as the anchor investor in the 10-year tranche, contributing a total issue volume of $410 million.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
</div>
</div></div><div class="clearfix"></div></div></div>

Philippines-Based AC Energy Launches $400 Million Green Bonds

climate-bonds

Get the most relevant India solar and clean energy news.

RECENT POSTS