Singapore-based Vena Energy is advancing P245.3 billion in renewable energy investments in the Philippines, with plans to develop an additional 2.6 gigawatts-peak (GWp) of capacity to meet rising power demand and support industrial expansion.
The investments come as the country seeks to attract manufacturing, technology and other energy-intensive industries that require reliable, competitively priced electricity. Expanding renewable generation, however, will also require timely project execution, adequate grid capacity and energy storage to ensure supply reaches consumers efficiently.
Vena Energy presented its investment plans to President Ferdinand Marcos Jr. during a business meeting in Singapore on October 11, attended by Trade Secretary Cristina Roque and Finance Secretary Frederick Go.
The company, which has operated in the Philippines since 2014, currently has 0.9 GWp of operational capacity, including solar facilities in Ilocos Norte and Negros Occidental.
Another 1.3 GWp is under construction, while a further 1.3 GWp is under contract. Once completed, these projects could bring its Philippine portfolio to 3.5 GWp, although the timeline for delivering the additional capacity was not specified.
“Reliable and competitive power infrastructure is vital for scaling industries and growing investments,” Roque said, underscoring the link between dependable electricity and the country’s industrial ambitions.
Discussions also covered energy storage, faster project development and grid integration, highlighting the infrastructure challenges that accompany the expansion of intermittent renewable energy sources.
Go said the investments would help strengthen energy security and support government efforts to lower electricity costs, a longstanding concern for businesses and households.
The government pledged to facilitate implementation through expedited permitting under Executive Order No. 18 and investment incentives under the CREATE MORE Act.
Vena Energy is also participating in the government’s Green Energy Auction Program, which aims to accelerate renewable energy deployment.
The planned investment adds to the country’s push to diversify its power supply. Its eventual contribution to industrial competitiveness will depend not only on installed capacity, but also on project completion, grid readiness and the ability to deliver affordable, dependable electricity.
