Published February 15, 2021, 2:45 PM
Ayala-led AC Energy and Infrastructure Corporation (ACEIC) and its Hongkong-headquartered partner UPC Renewables have engaged three foreign banks for the loans they have secured for the 400-megawatt(ac) first phase of their solar farm installation in New South Wales, Australia.
In a statement to the media, the Ayala firm stated that the lenders to the project had been Westpac; Commonwealth Bank of Australia; and Bank of China. The loan amount had been at 619 million Australian dollars; while the joint venture (JV) partners committed equity of US$320 million, according to AC Energy.
Photo credit: https://www.acenergy.com.ph
Commonwealth Bank Group is one of three banks partnering to provide construction financing of $212 million to UPCAC Renewables Australia for a new solar.