Vena Energy has initiated construction on two substantial solar power developments in Ilocos Norte, the company announced. These projects, collectively boasting a peak capacity of 380 megawatts, are set to enhance the green energy provider’s operational solar capacity in the province to approximately 480 MWp once completed. This expansion underscores Vena Energy’s commitment to advancing renewable energy infrastructure within the Philippines.
The Astra Solar Power Project, situated in Currimao, commenced its construction phase on May 5. This 80.6-MWp facility has secured a P2.7-billion green project finance facility from Security Bank, highlighting collaborative financial support for sustainable initiatives. The Astra Solar project is projected to generate around 142 gigawatt-hours of clean electricity annually. This output is estimated to be sufficient to power approximately 120,500 Filipino households and contribute to avoiding an estimated 95,400 tonnes of greenhouse gas emissions each year, a figure comparable to planting 1.5 million trees.
Following this, on May 6, Vena Energy held a ceremonial groundbreaking for the Opus Solar Project in Paoay. This larger development, with a capacity of 300 MWp, spans an area of 190 hectares. Notably, the Opus Solar Project represents a pioneering fully non-recourse renewable energy development in the Philippines, with its financing exclusively arranged by international banks. This project secured a $210-million green loan from seven global financial institutions. Once operational, Opus Solar is expected to supply energy to roughly 445,000 households and offset around 349,000 tonnes of greenhouse gas emissions annually, a significant contribution to environmental protection efforts.
The groundbreaking ceremonies were attended by prominent local officials, including Ilocos Norte Governor Cecilia Araneta Marcos and Vice Governor Matthew Joseph Manotoc, alongside Currimao Mayor Edward Quilala and Paoay Mayor Shiella Galano, signifying strong local backing for these renewable energy ventures. Executives from Vena Energy present included Vena Group chief operating officer Juan Mas Valor, Vena Energy head of Philippines Samrinder Nehria, and head of project development Mia Jarumayan.
Juan Mas Valor highlighted the broader impact of these investments, stating, “We are proud to see how our investments continue to create local jobs, support community aspirations and drive the Philippines’ energy transition forward.” These new Vena Energy projects build upon the company’s existing operational assets in the region, including the 20-MW Mirae Asia Energy Corp. and the 83.3-MW Nuevo Solar Energy Corp. projects. These developments are integral to supporting the Philippine government’s ambitious targets for renewable energy integration into the national power mix, aiming for 35 percent by 2030 and 50 percent by 2040.
Samrinder Nehria further emphasized the collaborative nature of these undertakings: “Opus Solar and Astra Solar demonstrate how strong cross-border and local collaboration can accelerate the transition to clean energy while upholding high standards of environmental and social governance.” The successful initiation of these Vena Energy Ilocos Norte solar projects marks a significant step in the nation’s journey towards a sustainable energy future. The expansion of renewable energy capacity in Ilocos Norte is a crucial component of the Philippines energy transition.
