ACEN Australia has successfully added its 400MW Stubbo Solar project in New South Wales to its AUD 750 million non-recourse portfolio debt facility, which was first established in April 2025.
The move brings Stubbo Solar into the same financing pool as Stage 1 of the company’s New England Solar project, with the portfolio facility designed to expand as ACEN brings additional projects to market, subject to conditions.
Eleven leading Australian and international financial institutions supported the transaction, after Stubbo became the first LTESA-backed solar project to achieve commercial operations in October 2025.
ACEN Australia Managing Director David Pollington said the milestone is a strong market signal in support of the company’s strategy and growth trajectory.
“With strong support from our stakeholders, we continue to strengthen our position as a major contributor to Australia’s clean energy transition,” Mr Pollington said.
“This milestone is testimony of the confidence our investors and financiers have in our delivery capability, and our commitment to bringing high quality renewable projects to market.”quality renewable projects
ACEN Australia Chief Financial and Investment Officer Phillip Mak said the transaction demonstrates the company’s ability to independently access capital to fund its development program.
“This transaction highlights the deepening trust our banking partners place in ACEN Australia’s long-term growth trajectory,” Mr Mak said.
“We remain focused on disciplined execution and delivering sustainable value across our operations as our portfolio expands.”term growth trajectory
In November 2025, ACEN Australia announced it had secured an offtake agreement with Flow Power, with energy from Stubbo Solar unpinning the expansion of Flow Power’s Flow Home program into New South Wales.
Financial institutions involved in the transaction are:
| Australia and New Zealand Banking Group | DBS Bank Ltd, Australia Branch |
| Commonwealth Bank of Australia | Hongkong and Shanghai Banking Corporation Limited, Sydney Branch |
| CTBC Bank Co. Ltd, Singapore Branch | MUFG Bank Ltd |
| CTBC Bank (Philippines) Corp | Sumitomo Mitsui Banking Corporation, Sydney Branch |
| Cathay United Bank | United Overseas Branch Limited, Sydney Branch |
| Deutsche Bank AG, Sydney Branch | Westpac Banking Corporation |
ACEN Australia would like to thank each of the above financial institutions, as well as Allens (legal adviser for ACEN Australia) and Herbert Smith Freehills Kramer (legal adviser for lenders) for their hard work and continued support.