[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 5 sources · 1 days · First seen · Last updated

Vena Energy renewable energy expansion in Philippines

Overview

Vena Energy is executing a large-scale renewable energy expansion in the Philippines, involving a planned ₱245.3-billion investment to advance 2.6 GWp of capacity. This expansion encompasses existing operational solar facilities in Ilocos Norte and Negros Occidental, alongside projects currently under construction or contract.

As part of these developments, Vena Energy has entered agreements to sell a 49% equity stake in the 500 MW Ixus Bugallon solar project in Pangasinan to Norfund and Impact Fund Denmark. This specific project has secured approximately USD 72 million from the Nordic development finance institutions and USD 310 million in senior debt from an international banking consortium. Construction on the Ixus Bugallon facility is underway, with operations expected to begin in 2027.

Entities

Vena Energy · Philippines · Energy Regulatory Commission · Norfund · Impact Fund Denmark

Timeline

  1. [BUSINESS] 3 sources
    Vena Energy sells 49% stake in Philippine solar project

    Norfund and Impact Fund Denmark are acquiring a 49% stake in Vena Energy’s 500 MW Ixus Bugallon solar project in the Philippines to support the nation's renewable energy transition.

  2. [BUSINESS] 2 sources
    Vena Energy announces ₱245.3B renewable energy expansion in the Philippines

    Vena Energy plans a ₱245.3-billion expansion to add 2.6 GWp of renewable capacity in the Philippines, while industry leaders emphasize grid readiness and financing at Clean Energy Week 2026.

Sources

logisticsnews.ph · mercomcapital.com · powerphilippines.com · pv-magazine.com · scandasia.com