MANILA, Philippines — Renewable energy developer Vena Energy has scaled up its investment commitment in the Philippines to ₱245 billion, aiming to build 2.6 gigawatts of clean energy capacity—far exceeding the ₱52 billion initially estimated during preliminary talks.
The company presented its comprehensive pipeline of active and contracted projects during a high-level business meeting with President Ferdinand Marcos Jr. in Singapore. The dialogue was also attended by key economic officials, including Finance Secretary Frederick Go and Trade Secretary Cristina Roque, coinciding with the President’s official visit.
Finance Secretary Go welcomed the massive capital infusion, emphasizing its alignment with national climate goals.
“Vena Energy’s projects will support the Philippines’ transition to clean and accessible energy, helping ensure a more reliable and sustainable power supply,” Go stated.
He further noted that green initiatives continue to drive foreign capital into the economy: “Renewable energy remains a leading investment sector in the country, consistently ranking among the top industries in investment approvals and Green Lane-supported projects. These investments advance the administration’s efforts to lower electricity costs and strengthen energy security.”
Operating in the country since 2014, Vena Energy currently maintains 0.9 gigawatt-peak of operational capacity, which includes major solar farms located in Ilocos Norte and Negros Occidental. Its upcoming development pipeline features 1.3 gigawatt-peak currently under construction and an additional 1.3 gigawatt-peak secured through contracted agreements.
Aside from capacity expansion, discussions also touched on energy storage systems, faster project development cycles, and smoother grid integration to support the Department of Energy’s Green Energy Auction Program.
Trade Secretary Roque highlighted the critical role of sustainable infrastructure in driving broader economic growth.
“Reliable and competitive power infrastructure is vital for scaling industries and growing investments,” Roque noted.
She added, “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.”
To fast-track the deployment of these multi-billion-peso projects, the national government assured the firm of full regulatory backing through state-backed incentives and expedited permit processing via the Green Lanes established under Executive Order No. 18.