Vena Energy, one of Asia-Pacific’s leading independent power producers (IPP), announced today that it has clinched three Renewable Energy Deal of the Year Awards for its solar and wind projects in Taiwan and the Philippines in the recent The Asset Triple A Infrastructure Awards 2020. These awards recognize successful local project financing arrangements in 2019 for some of the largest renewable energy projects in Asia. The Vena Energy projects being recognized this year are the following:
• Renewable Energy Deal of the Year (Philippines) – Solar: for the 133 MW Pollo Solar Project
• Renewable Energy Deal of the Year (Taiwan) – Solar: for the 70 MW Mingus Solar Project
• Renewable Energy Deal of the Year (Philippines) – Wind: for the 54 MW Pililla Wind Project
“These awards reinforce our commitment to deliver clean renewable energy to our host communities in the Asia-Pacific region, and contribute to the fight against climate change for a more sustainable future,” said Mr. Nitin Apte, CEO of Vena Energy. “We are honored to receive these awards, and share this recognition with our communities, colleagues, business partners and all other stakeholders”.
The 133 MW Pollo Solar Project completed the largest solar project financing in 2019 last February with a PHP 6.50-billion (USD 129.5m) term loan with Vena Energy’s local partner banks BDO Unibank Inc. and United Coconut Planters Bank. The Pollo Solar Project is the largest of its kind in the Philippines and Southeast Asia and is capable of powering approximately 189,400 local households, and has the generation capacity equivalent to reducing more than 160,000 tonnes of GHG emissions, saving approximately 187 million litres of water annually.
The 70 MW Mingus Solar Project completed its project financing in February 2020 with a NT 2.44-billion (USD 82.4m) term loan and performance bond facilities with DBS bank. The Mingus Solar Project is currently Taiwan’s largest IPP ground-mounted utility-scale solar project, capable of powering approximately 19,700 Taiwan households, and has the generation capacity equivalent to reducing more than 52,000 tonnes of GHG emissions, and saving approximately 100 million litres of water annually. The Mingus Solar Project is also the first project resulting from a successful joint effort among government regulators, environmental NGOs and private developers, making it the first model project in Taiwan for sustainable solar development. With the opening of the Mingus environmental education centre, Vena Energy will also be hosting educational tours of the wildlife conservation area and renewable energy education for schools and the general public.
The 54 MW Pililla Wind Project completed the largest wind project financing in 2019 this past September with a PHP 3.71 billion (USD 73.9m) term loan with Vena Energy’s local partner banks BDO Unibank Inc. and China Banking Corporation. Drawing more than 13,000 visitors per week to its Visitor Centre for ecological and cultural tourism, the Pililla Wind Project is capable of powering up approximately 130,800 local households, and has the generation capacity equivalent to reducing more than 110,000 tonnes of GHG emissions and saving approximately 130 million litres of water annually.