Vena Energy signs investment agreement for 550MW solar PV asset in the Philippines

Singapore-headquartered renewable energy producer Vena Energy has signed an investment agreement with MGen Renewable Energy for a 550MW solar PV project in the Philippines.

The 550MW Bugallon solar PV project is located in Bugallon, Pangasinan, around 200km northwest of the country’s capital, Manila. Construction is expected to begin later this year, and operations are anticipated to commence in the fourth quarter of 2025.

According to the project’s scoping report, the site will cover around 590 hectares of land and cost around US$565 million. It will be constructed by 3 Barracuda Energy Corporation, a subsidiary of Vena Energy.

Around 1,300,320 solar PV modules will be installed, and the project will also include a co-located battery energy storage system (BESS); however, the capacity of the battery storage system has not been disclosed.