Vena Group reaches financial close on internationally-financed renewables project
Published by Abby Butler,
Editorial Assistant
Energy Global,
Vena Energy, the renewable energy arm of Vena Group and a leading provider of green energy solutions across the Asia-Pacific region, has reached the financial close of its first full international project financing in the Philippines, the Opus solar energy project.
The project is part of the Department of Energy’s (DOE) Green Energy Auction Program 2 (GEAP 2), which aims to install 3.4 GW of committed renewable energy capacity by 2026.
Seven international financial institutions have participated in the project financing. These are BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd, Intesa Sanpaolo S.P.A., MUFG Bank Ltd, Standard Chartered Bank Ltd, and Sumitomo Mitsui Banking Corp.
This landmark transaction paves the way for similar future financing facilities across the entire renewable energy sector in the Philippines, underscoring Vena Group as a regional leader in green innovation and large scale energy infrastructure.
Simone Grasso, Chief Investment Officer of Vena Group, commented: “This bespoke financing reflects the confidence of global banking institutions in the quality of our strategy, our team, and our projects. As the first US dollar–denominated project financing in the Philippines’ renewable energy sector funded entirely by international banks, this transaction underscores Vena Group’s leadership to mobilise cross-border capital at scale to accelerate the country’s clean energy transition.”
The Opus solar energy project is a?ground-mounted solar facility?located in Ilocos Norte, with a capacity of 300 MWp. Once operational, it is expected to generate clean energy for approximately?445 000 households. This is equivalent to planting close to 5.8 million trees or taking 76 000 vehicles off the road, thereby reducing greenhouse gas emissions by 349 000 t.
This milestone further advances Vena Group’s commitment to decarbonising the economy and accelerating the energy transition in Asia-Pacific.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
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Read the article online at: https://www.energyglobal.com/solar/15122025/vena-group-reaches-financial-close-on-internationally-financed-renewables-project/
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