Philippine energy company ACEN Corp (ACEN.PS) on Wednesday said its unit ACEN Renewables International (ACRI) signed an A$75 million ($49.22 million) green term loan facility with HSBC (HSBA.L) for renewable expansion in Australia.

The green term loan will be used to fund ACEN's renewable energy projects in Australia, the company's largest market outside Philippines, ACEN said in a statement.

"The loan agreement underlines ACEN's strategic move to bolster its renewable energy initiatives in Australia, an emerging key market for the company," it added.