MANILA, Philippines — Vena Global Group Pte Ltd, a Singapore-based renewable energy developer, has secured a P2.7-billion debt facility to accelerate its solar power expansion in Northern Luzon.
The fresh capital will fund the construction of the 80.6-megawatt peak (MWp) Astra Solar Power Project in Currimao, Ilocos Norte. The company aims to bring the facility online by the fourth quarter of this year.
Simone Grasso, chief investment officer at Vena Group, stated, "This project deepens our presence in Ilocos Norte and builds on the strong operational track record of our existing assets in the region."
Security Bank Capital acted as the mandated lead arranger, green loan coordinator, and hedging bank for the financing deal.
The Astra project will complement Vena's existing portfolio in the area, which includes two operational solar parks managed by its unit, Vena Energy. The group is also concurrently developing the much larger 300-MWp Opus Solar Energy Project in the region.
In late 2025, Vena Group raised $210 million from a consortium of seven international banks to support the Opus plant, which is expected to generate enough electricity to power approximately 445,000 households once operational.
Vena Group boasts a total portfolio capacity of 46,500 MW across the Asia-Pacific region, encompassing onshore and offshore wind, solar, and battery storage assets.