Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), has entered a strategic partnership with global renewable energy developer Vena Global Group Pte. Ltd. to invest in a 2,800-megawatt portfolio of renewable energy projects spanning Indonesia and the Philippines, the firms announced Wednesday.
The portfolio covers solar and wind assets across all stages—already operating, under construction, contracted, and in development. Both sides did not disclose the value of INA’s investment in the partnership.
For Vena Group, the deal marks a key step in expanding its ties with institutional investors across Asia-Pacific and advancing its Green Fund Partnership strategy. For INA, the investment fits squarely within green energy, one of its core priority sectors, with a strong base of operating assets and future growth opportunities in Indonesia.
Nitin Apte, Vena Group chief executive officer, said Indonesia and the Philippines are vital markets for the region’s shift to cleaner energy. “This partnership brings together INA’s long-term investment perspective with Vena Group’s renewable energy development, construction and operating capabilities. Together, we can accelerate the delivery of high-quality renewable energy infrastructure that strengthens energy security, supports economic development and advances decarbonization,” Apte added.
In the Philippines, Vena Energy—the group’s local arm—is developing major projects including the 500-megawatt Ixus Bugallon solar facility in Pangasinan. Construction began last May on two large solar farms in Ilocos Norte: the Astra plant in Currimao and the Opus plant in Paoay, which together will add about 380 megawatts of capacity. These build on the company’s existing Ilocos Norte facilities: the 20-megawatt Mirae Asia Energy Corp. and the 83.3-megawatt Nuevo Solar Energy Corp.
This alliance links a major Southeast Asian sovereign investor with an established renewable developer, unlocking capital and expertise to speed up clean energy rollout across both countries. It underscores growing regional cooperation in the energy transition, positioning the Philippines as a key market attracting international institutional capital for its renewable sector.
