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Vena Energy and MGen Renewable Energy partner on 550 MW solar project in the Philippines

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Vena Energy has entered into an investment agreement with MGen Renewable Energy to jointly construct a 550 MW solar plant in Bugallon, Luzon, Philippines. Construction of the solar project is set to begin this year, with commercial operations expected to start in the fourth quarter of 2025, making it one of the largest solar plants in the country upon completion.

MGen, a subsidiary of Manila Electric Co., aims to reach 1,500 MW of renewable energy capacity by 2030. MGen President Manny V. Rubio stated that this investment brings the company closer to its renewable energy goals.

Vena Energy recently activated a 125 MW solar project in Queensland, Australia, showcasing its ongoing commitment to expanding renewable energy capacity. According to the International Renewable Energy Agency (IRENA), the Philippines had 1.7 GW of installed solar capacity at the end of 2023, with plans to add up to 2 GW of new solar capacity this year.

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