Norfund and Impact Fund Denmark to Invest in Vena Energy's 500 MWp Ixus Bugallon Solar Power Project in the Philippines

Norfund and Impact Fund Denmark have signed agreements to invest a combined 49% equity interest in the 500 MWp Ixus Bugallon Solar Power Project in Bugallon, Pangasinan, Philippines.

The transaction remains subject to the approval of the Philippine Competition Commission ("PCC") and other customary closing conditions.

The project is expected to supply the equivalent annual electricity needs of approximately 650,000 Philippine households and avoid approximately 570,000 tonnes of CO₂ emissions annually once operational.

Singapore, 26 October 2026 – Vena Energy, Norfund, the Norwegian Investment Fund for Developing Countries, and Impact Fund Denmark announced that they have signed agreements on investing a combined 49% equity interest in the 500 MWp Ixus Bugallon Solar Power Project in Bugallon, Pangasinan, Philippines.

Completion of the transaction is subject to the approval of the Philippine Competition Commission (PCC), and other customary closing conditions. The Ixus Bugallon Solar Power Project represents a significant addition to the Philippines’ growing renewable energy capacity.

Awarded under the Philippine Department of Energy’s second Green Energy Auction Program (GEAP 2), the Ixus Bugallon Solar Power Project is expected to generate enough renewable power to supply the equivalent annual electricity needs of approximately 650,000 Philippine households once operational, while avoiding around 570,000 tonnes of CO₂ emissions annually.

The project reached financial close in July 2026, securing approximately USD 310 million in senior debt financing from a syndicate of eight international banks. This reflects strong international lender appetite for quality large-scale renewable energy infrastructure in the Philippines.

The transaction is expected to contribute to the continued growth of renewable energy generation capacity in the country while supporting long term sustainability objectives.

Nitin Apte, Chief Executive Officer of Vena Group, said, “We are pleased to partner with Norfund and Impact Fund Denmark for the Ixus Bugallon Solar Power Project. The Philippines is an important market for Vena Energy, and this project demonstrates the scale of renewable energy infrastructure that can be delivered by bringing together strong development capabilities and long-term institutional capital. Together we look forward to supporting the Philippines’ energy transition and contributing to sustainable economic development as we continue to engineer a greener future across Asia-Pacific.”

Simone Grasso, Chief Investment Officer of Vena Group and Global Head of Vena Nexus, said, “This transaction represents another important milestone in our institutional partnership strategy. Once complete, it will bring Norfund and Impact Fund Denmark alongside Vena Energy, allowing us to retain long-term ownership and operational involvement while rotating capital into our construction programmes and future growth. We look forward to progressing the transaction towards completion.”

Erik Sandersen, Chief Executive Officer of Norfund, said, “Norfund’s Climate Investment Fund is set up to avoid emissions in emerging markets, and the Ixus Bugallon Solar Power Project is a great example of what what we want to do more of. The project is expected to avoid more than half a million tonnes of CO2 every year. We are very happy to partner with Vena Energy and Impact Fund Denmark to contribute to the renewable energy transition in the Philippines.”

Lars Bo Bertram, Chief Executive Officer of Impact Fund Denmark, said, “The Philippines is a growing economy, and demand for electricity is rising rapidly. Today, however, a large share of the country’s electricity is generated from coal. To ensure that economic growth does not lead to even higher emissions, significant investment in renewable energy is needed. This project demonstrates how economic growth and the green transition can go hand in hand.”

Vena Energy Welcomes DENR Secretary Cuna to Ilocos Norte Solar Projects

[ILOCOS NORTE, Philippines] Department of Environment and Natural Resources (DENR) Secretary Juan Miguel Cuna visited Vena Energy’s solar facilities in Currimao and Paoay, Ilocos Norte, on 10 September 2026.

During the visit, Vena Energy representatives briefed Secretary Cuna and the DENR delegation on the company’s operational and upcoming solar projects in the province. Vena Energy currently has two operational solar power plants in Currimao, operated by Mirae Asia Energy Corporation and Nuevo Solar Energy Corp., as well as two projects under development: the Astra Solar Power Project in Currimao and the Opus Solar Power Project in Paoay.

Vena Energy Honored as Outstanding Stakeholder by DepEd Calbayog City

[Philippines; 23 September 2026] Vena Energy has been recognized as an “Outstanding Stakeholder” by the Department of Education (DepEd), Schools Division of Calbayog City, in recognition of its support for education and community development. The award was presented during the annual Stakeholders Summit.

The recognition was presented at the Calbayog City Convention Center. The annual summit brings together educational leaders, local government officials, and private sector partners to recognize collaborative efforts to enhance the quality of education in the region.

Vena Energy, a leading renewable energy company, was recognized for its “invaluable support, meaningful partnership, and significant contributions to advancing education and strengthening stakeholder engagement in Calbayog City.”

In an invitation sent prior to the event, Dr. Margarito A. Cadayona Jr., Ph.D., Schools Division Superintendent, highlighted Vena Energy’s contributions through its subsidiary, Gemini Wind Energy Corp. (GWEC), and their role in supporting the local education community.

Marivic Acuyong, CSR Manager at Vena Energy, and Falconeri Miranda, Project Manager at GWEC, accepted the award on behalf of the company. Their participation reflected Vena Energy’s continued partnership with DepEd Calbayog City and the local community.

“Receiving this recognition is meaningful to the entire Vena Energy team,” said Samrinder Nehria, Head of the Philippines, Vena Energy. “Our commitment to the communities where we operate goes beyond providing clean energy. We believe that supporting education helps create opportunities for young people and contributes to stronger communities. This recognition from DepEd Calbayog strengthens our commitment to supporting students, teachers and schools through sustained and meaningful partnerships.”

Vena Energy’s participation in the Stakeholders Summit reflects its broader commitment to creating long-term positive social impact in the communities where it operates. The recognition also underscores the value of collaboration between the public and private sectors in supporting education and creating opportunities for young people.

DepEd Calbayog expressed its continued gratitude to all stakeholders, emphasizing that strong partnerships and support systems contribute to the successful delivery of educational programs in Samar.

Empowering Education: Vena Energy Mobilizes Teams and Resources Across the Philippines for Brigada Eskwela

[MANILA, PHILIPPINES – 30 June 2026] - Demonstrating its unwavering commitment to sustainable development and community empowerment, renewable energy leader Vena Energy, together with its project companies across the Philippines, has mobilized resources and volunteers in support of the Department of Education's (DepEd) annual Brigada Eskwela program.

Through targeted donations of maintenance materials, classroom equipment, and employee volunteerism, Vena Energy has provided meaningful support to public schools within its host communities, helping create safe, clean, and conducive learning environments for thousands of students as they prepare for the new academic year.

This nationwide initiative reflects Vena Energy's Corporate Social Responsibility (CSR) commitment to advancing education and strengthening community resilience alongside its mission of delivering clean energy. By partnering closely with educators, local government units, and community stakeholders, the company continues to contribute to long-term, sustainable development in the areas where it operates.

Brightening Classrooms in Samar

In Samar, the Gemini Wind Energy Corp (GWEC) project team worked on enhancing school infrastructure by donating specialized roof paints to 13 public elementary and high schools namely: Rizal Elementary School, Cacaransan Elementary School, Guinbaoyan Norte Elementary School, Migara National High School, Calbayog Arts and Design School and Early Childhood Care and Development (CADSEV), Basud Integrated School, Oquendo Central School, Cagbayang Integrated School, Cabatuan National High School, Tinambacan Central School, Salhag Elementary School, Bantian Elementary School, and Bugtong Elementary School.

This contribution ensures that the school facilities are well-protected against tropical weather conditions, giving students a more comfortable space to learn. 

 

Harnessing Volunteerism and Shared Effort in Rizal

In Rizal, Pililla Wind Power Corporation (PWPC) combined material support with hands-on volunteerism. The company donated essential paint and cleaning supplies to Bugarin Elementary School, while a team of 33 volunteers comprising 13 employees from Vena Energy's Makati office and 20 site-based team members from PWPC joined teachers and parents in repainting classrooms and cleaning common areas.

Meanwhile, Sembrano Wind Power Corporation (SWPC) is enhancing classroom comfort through the donation of 32 stand fans to local schools. Malaya Elementary School will receive 20 units, while Niogan Elementary School will receive 12 units, helping improve ventilation and create a more conducive learning environment, particularly during warmer months.

Extending Assistance Across the Philippines

Further reinforcing this collective effort, Vena Energy's other project companies, including Mirae Asia Energy Corp., First Solar Energy Corporation, Helios Solar Energy Corp., and Asian Greenergy Corporation, also provided paint and cleaning materials to partner schools within their respective host communities.

Together, these initiatives represent a coordinated effort across multiple provinces, reflecting Vena Energy's shared commitment to supporting education and community well-being nationwide.

A Long-Term Commitment to Host Communities

"Our participation in Brigada Eskwela goes beyond preparing classrooms for the start of the school year. It reflects our deep commitment to being a responsible and trusted partner to our host communities," said Samrinder Nehria, Head of Vena Energy in The Philippines. "For us, sustainability means more than generating clean energy. It means investing in the infrastructure, well-being, and future of the communities where we operate, particularly the children who will help shape tomorrow."

Through these combined efforts in Rizal, Samar, Negros Occidental, Leyte, and Ilocos Norte, Vena Energy continues to strengthen the connection between renewable energy development and grassroots community support, embodying the spirit of bayanihan (communal unity) and helping build brighter futures through education.

Vena Energy Marks World Environment Day with Major Tree-Planting Initiative in Antipolo, Rizal, Philippines

[MANILA, PHILIPPINES – 5 June 2026] – Vena Energy, a leading green energy solutions provider in the Asia-Pacific region, marked World Environment Day with a large-scale ceremonial tree-planting initiative in Sitio Kilingan, Barangay San Jose, Antipolo City, Rizal. The activity brought together 19 employee volunteers from across the organization and 100 members of the local People’s Organization, a community conservation group, to support the national goal of planting at least five million trees nationwide by 2028. 

Held under the theme "Plant a Tree, Make a Change Today!", the initiative supports the Department of Environment and Natural Resources' (DENR) Forests for Life (FFL) programme. Employee volunteers made an early start, arriving at the site equipped with the necessary tools and planting 200 seedlings (50 molave, 100 white lauan, 50 soursop), demonstrating the company's commitment to environmental stewardship.

"As a company dedicated to accelerating the energy transition, we ensure that our responsibility to the environment extends beyond our renewable energy projects," said Samrinder Nehria, Head of Vena Energy in the Philippines. "This ceremonial tree planting is our first step in honouring the commitment we have made to adopt and plant on an initial 50 hectares of forest land, with the aim of adopting more areas in the country that need our support and where tangible, hands-on actions are called for to ensure the promise of sustainable development is kept."

The tree-planting activity follows the Memorandum of Agreement (MOA) signed between Vena Energy and the DENR on 11 February 2026, formalizing the company's support for the FFL programme. The FFL aims to establish at least 5 million indigenous forest tree species nationwide, from 2025 to 2028, to address forest conservation, biodiversity restoration and climate change mitigation, while enhancing community livelihoods and private-sector engagement.

A second MOA was also signed at this week’s event between Vena Energy and the People’s Organization, Samahan ng Magsasaka sa Kilingan-Panusugin, Inc. (SMKPI), committing the company to plant 28,000 trees across 50 hectares of land in Rizal. The agreement is the SMKPI’s first with a private sector partner, and SMKPI will oversee the establishment and maintenance of the 50-hectare plantation.

Bryan Ulic-Ulic, Provincial Environment and Natural Resources Office (PENRO) Rizal Community-Based Forest Management (CBFM) Provincial Coordinator1, said: “This is the very first signing of an agreement with a People’s Organization. Let us not waste this opportunity. The importance of trees includes both tangible and intangible benefits. For example, better climatic conditions - we cannot pay for that. The motto of the CBFM is ‘People first and sustainability will follow,’ and this initiative will be one of our solutions for our sustainable environment.” 

The Antipolo site was carefully selected for its ecological significance to the Greater Metro Manila area. As the host province for several of the company's key renewable energy projects and ongoing community programmes, Rizal remains a primary focus of Vena Energy's environmental stewardship efforts.

The initiative reflects Vena Energy's broader sustainability strategy and strong culture of corporate social responsibility. By encouraging employees to actively engage in environmental conservation efforts, the company continues to foster a workplace culture that values sustainability, community partnership, and collective action.

1PENRO is the primary provincial-level implementing arm of the DENR, which manages land dispositions, environmental permits, protected areas, and local forestry projects. The CBFM develops strategies to manage, protect, and rehabilitate forestlands.

Vena Energy Formalizes Community Support through a Check Turnover Ceremony to host Indigenous Cultural Communities

Philippines, 24 April 2026] Quezon Wind Energy Corp. (QWEC), a subsidiary of Vena Energy, a leading green energy solutions provider across the Asia-Pacific region, marked a key milestone in its community engagement efforts through a check turnover ceremony for its host community, the Dumagat/Remontado Indigenous Cultural Communities (ICCs) of Tanay. The ceremony was held in Quezon City on 21 April 2026.

The event reflects Vena Energy’s continued commitment to inclusive development and to respecting the rights and heritage of its host communities. The turnover formalizes the remittance of community funds to the Tanay ICCs through the Tanay Dumagat Remontado Ancestral Domain Development, Inc. (TDRADDEVI), the Implementing Indigenous Peoples’ Organization (IPOs) established through the Free, Prior and Informed Consent process.

Through this partnership, Vena Energy supports community-led development initiatives aligned with the priorities identified by the ICCs, including infrastructure improvements, access to education, sustainable livelihood programs, and enhanced healthcare services.

The ceremony was attended by representatives from Vena Energy, led by Mia Jarumayan, Head of Business Development, Project Development and leaders of the Tanay ICCs, led by Eleonor Atencio, President, Tanay Dumagat Remontado Ancestral Domain Development, Inc.

Samrinder Nehria, Head of Vena Energy in the Philippines, said, “At Vena Energy, we believe the transition to clean energy should create lasting value for the communities we work with while honoring the heritage and rights of our host communities. This milestone reflects our shared commitment to ensuring that development is inclusive and celebrates our shared journey toward a sustainable future where indigenous voices are heard and valued.”

A Model for Sustainable Partnership

The collaboration shows a successful model for private-public partnerships in the renewable energy sector. By strictly adhering to the FPIC process, Vena Energy ensures that all projects are built on a foundation of mutual respect and transparent communication. 

“Vena Energy has been a very active and supportive partner throughout the years, and we are very grateful for the opportunities that this partnership has brought to our community, boosting our confidence in our own capabilities and inspiring us to grow,” said Eleonor Atencio, President of TDRADDEVI.

NCIP R4A Regional Director Dr. Carlos Buasen, Jr. shared, “We are happy to have a continuously harmonious relationship with a company like Vena Energy, whose sustainability efforts aren't just focused on its business but as well as the people and their ancestral domains that are affected by it.”

This turnover represents a meaningful partnership between Vena Energy and the ICCs, grounded in shared growth and mutual respect. By integrating community-led development into its core operations, Vena Energy reinforces its commitment to honoring ancestral domain rights and   supporting self-determination.  This collaboration demonstrates how renewable energy can contribute not only to the national grid, but also to the long-term aspirations of the Filipino people, built on a foundation of genuine equity and care.

Vena Energy Turns Over 1,000 “Seats for Sustainability” to Talim Island Schools, Improving the Learning Environment for Students While Creating Livelihood for Locals

[Philippines, 27 January 2026] Vena Energy, a leading green energy solutions company in the Asia-Pacific region, has successfully turned over 1,000 handcrafted armchairs to elementary schools in the municipalities of Binangonan and Cardona on Talim Island.

The initiative, titled, “Seats for Sustainability,” was led by Vena Energy’s subsidiary, Island Wind Energy Corp. (IWEC). It marks a significant milestone in the company’s corporate social responsibility (CSR) efforts, delivering a dual impact: improving the learning environment for thousands of students while providing sustainable livelihood opportunities for the island’s residents. 

Empowering Education in Remote Communities

The turnover ceremonies were held on 22 January 2026 at Kasile Covered Court (Binangonan) and 23 January 2026 at Lambac Covered Court (Cardona). The donation benefits multiple schools, including Kasile Elementary School, Bombong Elementary School, Kinagatan Elementary School, and Lambac Elementary School. 

For remote areas like Talim Island, logistical challenges often hinder the delivery of school facilities. This donation addresses a critical infrastructure gap, ensuring that students have access to comfortable, DepEd-standard furniture that fosters a better learning environment. 

From Skills to Livelihood

What sets the “Seats for Sustainability” project apart is its commitment to the local circular economy. Rather than sourcing furniture from external suppliers, Vena Energy partnered with local communities to manufacture the chairs.

Residents were trained by the Technical Education and Skills Development Authority (TESDA) in carpentry and craftsmanship. Following their training, these local community members were hired by Vena Energy to build the 1,000 chairs. This not only ensured the furniture met quality standards but also injected income directly into local households, turning a charitable donation into a driver for economic empowerment.

A Commitment to Host Communities

“Seats for Sustainability” aligns with Vena Energy’s broader CSR strategy, which prioritizes Education, Infrastructure Development, and Community Well-being. By engaging the community in the solution, the company reinforces its core value of enabling sustainable social and economic development within its host communities.

“We believe that  a community means giving them thempoweringe necessary tools to build their own future,” said Samrinder Nehria, Head of The Philippines at Vena Energy. “This project is special because the fathers and neighbors of these students built the very chairs their children will sit on. It is a story of pride, resilience, and sustainability.” 

The event was attended by key stakeholders, including representatives from IWEC, local government officials from Binangonan and Cardona, school officials, and residents of Talim Island.

Vena Energy Secures Bronze Recognition at the AmCham 2025 Corporate Social Impact Awards

Vena Group’s commitment to community welfare in the Philippines has been recognised with a Bronze Award at the American Chamber of Commerce (AmCham) Philippines 2025 Corporate Impact Awards.  

The award, presented by AmCham of the Philippines in partnership with the US Embassy, honours our Water, Sanitation and Hygiene (WASH) Program in Cadiz City, Negros Occidental. 

The recognition in the Community Impact and Civic Engagement category reflects our belief that creating clean energy goes hand in hand with building healthier, more resilient communities where we operate.  

Since launching in 2023, the WASH Program has constructed 26 handwashing facilities across 26 Child Development Centres in 13 barangays, benefiting 2,080 schoolchildren. The Cadiz City Social Welfare and Development Office reports that the initiative has contributed to a 50% drop in absenteeism among beneficiary centres, as fewer children fall ill from poor sanitation. 

Implemented in partnership with the Cadiz City Social Welfare and Development Office and the City Health Office, the program addresses a pressing public health need in communities surrounding our 132.5 MW Cadiz Solar Power Plant. The program is delivered through our subsidiary, Helios Solar Energy Corp. (HSEC), which operates the plant.

“HSEC’s generosity and commitment to creating a better future for children through the City’s Early Childhood Care Development Program are deeply appreciated, and our corporate social responsibility partnership is making a significant difference and positive impact in our municipality,” said Cadiz City Municipal Mayor Salvador Escalante, Jr.  

Now in its third year, the program continues to expand. By the end of 2025, Vena Group will complete an additional 15 toilet facilities benefiting 75 residents in Barangay Sicaba, Cadiz City. 

Samrinder Nehria, Head of The Philippines at Vena Energy, the renewable energy arm of Vena Group, said the recognition reflects our long-standing partnership with Local Government Units and host communities across the Philippines.  

“As we continue to develop clean energy infrastructure to meet the national goal of 35% renewable energy share by 2030, we remain focused on our shared responsibility: building a workplace where our people feel empowered and investing in meaningful programs that advance the well-being of our community partners,” he said. 

Every milestone Vena Group achieves is powered by strong partnerships and a commitment to engineering a greener future for the Philippines and the wider Asia Pacific region.