Singapore-based Vena Energy is committing an additional P52 billion in equity investments to expand its Philippine renewable energy portfolio by 1.29 gigawatts (GW) over the next two years, strengthening its presence in a power market seeking to diversify supply and reduce reliance on conventional energy sources.
The commitment was disclosed following a meeting between President Ferdinand Marcos Jr. and Vena Energy executives in Singapore, according to the Presidential Communications Office.
Vena Energy currently operates 887 megawatts (MW) of renewable energy capacity in the Philippines, with another 1.26 GW under construction. The planned expansion would bring its combined operating, construction and prospective capacity to approximately 3.44 GW, significantly increasing its potential contribution to the country’s electricity supply.
The company, which has an 8.6-GW portfolio across the Asia-Pacific, has developed solar, wind and hybrid energy projects in several Philippine locations, including Pangasinan and Ilocos Norte.
Among its major investments is the 550-megawatt-peak (MWp) Bugallon Solar Power Project in Pangasinan. A further 500-MWp expansion secured financing in July 2026, adding to the company’s pipeline of solar developments.
In Ilocos Norte, Vena Energy broke ground in May on the Astra and Opus solar projects, which represent approximately 380 MWp of additional capacity.
The latest investment pledge builds on the company’s broader project pipeline. The Board of Investments reported that Vena Energy had obtained Green Lane certification for 15 projects with combined investments exceeding P240 billion as of April 2026. The certification facilitates government processing for qualifying strategic investments but does not, by itself, establish that projects have been completed.
The expansion comes as the Philippines pursues renewable energy targets of 35 percent of power generation by 2030 and 50 percent by 2040.
While the additional capital signals sustained investor interest in the country’s clean energy market, translating planned capacity into actual electricity supply will depend on project execution, grid connectivity and supporting infrastructure.
The investment could help the Philippines expand generating capacity as electricity demand grows, while underscoring the importance of timely approvals and transmission development in meeting national energy goals.
