ACEN Australia secures $750 million for renewables expansion

ACEN Australia has secured $473.5 million (A$750 million) in debt financing to support its renewable energy projects, including the near-complete 400MW Stubbo Solar project and the recently operational Stage 1 of the New England Solar project. The financing, provided by a consortium of 11 lenders, aims to establish a robust funding base for ACEN's diverse portfolio, which encompasses over 1GW of renewable capacity currently in operation and another 13GW in development across the National Electricity Market. Managing Director David Pollington emphasized that this investment reflects growing investor confidence in high-quality renewable infrastructure in Australia. The financing is expected to accelerate ACEN's delivery pipeline and enhance its position as a long-term developer in the clean energy sector. Additionally, the New England project is set to include a co-located battery energy storage system, further strengthening its renewable capabilities. The transaction involved joint financial advisors Macquarie Capital and Morgan Stanley, with legal support from Allens and Herbert Smith Freehills.