| Project Detail |
The proposed loan of PHP5,500,000,000 and partial credit guarantee of PHP1,100,000,000 will be a sustainability-linked facility with performance indicators on environmental and social matters. The loan proceeds will be used to finance solar photovoltaic projects in the Philippines.
Project Name ACEN Sustainability-Linked Facility
Project Number 56241-001
Borrower / Company ACEN Corporation
Country / Economy Philippines
Location Nation-wide
The proposed loan of PHP5,500,000,000 and partial credit guarantee of PHP1,100,000,000 will be a sustainability-linked facility with performance indicators on environmental and social matters. The loan proceeds will be used to finance solar photovoltaic projects in the Philippines.
Objectives and Scope The sustainability-linked facility aims to boost the renewable energy capacity of the Philippines, which has traditionally relied on coal to meet to its growing electricity needs.
Linkage to Country/Regional Strategy The transaction is aligned with the first strategic pillar of support in ADBs Country Partnership Strategy for the Philippines (2018-2023): Accelerating Infrastructure and Long-term Investments. In particular, it contributes to (i) infrastructure policy and finance, (ii) capacity development, and (iii) climate change management and disaster risk resilience. It is also consistent with ADBs Strategy 2030, which has a target of 75% of ADB operations supporting climate change mitigation and adaptation by 2030. |
