MGen starts Ilocos solar joint venture

MANILA, Philippines — CURRIMAO, Ilocos Norte – Meralco PowerGen Corp. (MGen), the power generation arm of Manila Electric Co., is exploring more joint venture projects with Singapore-based renewable energy company Vena Energy following the completion and start of commercial operations of their maiden solar development.

Nuevo Solar Energy Corp. (NSEC), a joint venture between MGen Renewable Energy Inc. (MGreen) and Vena Energy, inaugurated yesterday its 68-megawatt alternating current (MWac) Garcia 2 solar project.

“This is just the first project of our joint venture with Vena Energy. We hope that there would be more so that we could bring the power of the sunlight to all the communities here in the Philippines,” MGen president and CEO Jaime Azurin said.

Headquartered in Singapore, Vena Energy is a renewable energy company in the Asia-Pacific region that owns, develops, constructs, operates, manages, and commercializes renewable energy.

Its portfolio exceeds 40 gigawatts of solar, onshore wind, offshore wind, energy storage, and hybrid renewable energy projects.

“The Garcia solar project marks a significant milestone in our collective efforts towards a sustainable future, as well as Vena Energy’s renewable energy portfolio in the Philippines,” Vena Energy Philippines head Samrinder Nehria said.

“We are delighted to partner with MGreen on this project, and it is a testament to our joint experience and expertise to deliver this project successfully within a span of only 12 months, and we look forward to more of such collaborations in the future,” he said.

Nehria said project cost for the the Garcia 2 solar plant is around $65 million.

He said initial site works started in February last year, while actual construction started in March.

“Today we embark on a new chapter in our partnership with Vena Energy as we start the commercial operations of NSEC. Powered by our shared aspiration to provide clean and sustainable energy, we are proud to have helped accelerate the country’s energy transition and shall continue investing in clean and sustainable energy sources,” Azurin said.