Vena Energy gets $310M for 500 MW Pangasinan solar project

Vena Energy has secured around $310 million in financing from eight international banks for its 500 MW Ixus Bugallon solar project in Pangasinan, reaching full financial close. Located beside the company’s existing 550 MW Bugallon facility, the new plant will lift Vena’s total capacity in the province to 1,000 MW once completed. It is set to power 650,000 households yearly, cut emissions by over 570,000 tonnes annually, and save 830 million litres of water each year, with incentives granted under the Department of Energy’s Green Energy Auction program. The deal follows Vena’s recent start of construction on two solar projects in Ilocos Norte, adding to its growing renewable portfolio across the Philippines.

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