Renewable energy developer Vena Energy is advancing 2.6 gigawatts of renewable energy capacity in the Philippines through projects under construction and contracted developments, backed by planned investments of about P245 billion.
The Singapore-headquartered company presented its expansion plans during a meeting with President Ferdinand Marcos Jr. on 11 October in Singapore, attended by Trade Secretary Cristina Roque and Finance Secretary Frederick Go.
“Reliable and competitive power infrastructure is vital for scaling industries and growing investments. Vena Energy’s strategic capacity expansion directly strengthens our clean energy grid, ensuring that our expanding industrial sectors have dependable, sustainable power to fuel long-term operations,” Roque said.
Vena Energy, which has operated in the Philippines since 2014, currently has 0.9 gigawatt-peak (GWp) of operational capacity, including solar facilities in Ilocos Norte and Negros Occidental.
The company reported 1.3 GWp of capacity under construction and another 1.3 GWp under contract. Together, these developments represent approximately 2.6 GWp of additional capacity that could strengthen the country’s clean power supply and meet growing industrial demand.
Discussions also covered the company’s broader renewable energy and energy storage pipeline, faster project development and improved grid integration. Its participation in the Department of Energy’s Green Energy Auction Program is expected to support the deployment of additional renewable energy capacity.
Go said the projects would contribute to the country’s transition to cleaner and more accessible energy while supporting efforts to lower electricity costs and improve energy security.
The government cited tax incentives under the CREATE MORE Act and expedited permitting through Green Lanes under Executive Order No. 18 as mechanisms to help qualified investments proceed.
Roque said the DTI would help investors navigate approvals and coordinate with relevant agencies to move projects toward implementation.