Vena Energy, a prominent player in sustainable energy solutions across the Asia-Pacific region, has formalized an investment agreement with MGen Renewable Energy Inc. (MGreen), the renewable energy division of Meralco PowerGen Corporation (MGen). The partnership is set to undertake the construction of the 550-megawatt (MW) Bugallon Solar Power Project, located in Bugallon, Pangasinan.
The project, spearheaded by Vena Energy, is slated to commence construction this year and aims to begin commercial operations by the fourth quarter of 2025. Once operational, it will stand as one of the largest solar power installations in the Philippines, featuring a substantial 550MW DC capacity.
Nitin Apte, CEO of Vena Energy, emphasized the significance of the project: “Vena Energy is committed to accelerating the energy transition and advancing green solutions that foster sustainable growth and environmental stewardship. The Bugallon Solar Power Project exemplifies our collective commitment to creating a greener future for the Philippines.”
Manny V. Rubio, President of MGen, highlighted the strategic importance of the project for their organization: “This investment not only brings MGen closer to achieving our target of 1,500 MW of attributable renewable energy by 2030 but also strengthens our collaboration with partners who share our vision for a sustainable energy future. We are dedicated to powering growth through renewable energy.”
MGen, a wholly owned subsidiary of the publicly listed Manila Electric Company (Meralco), oversees Global Business Power Corporation and MGreen. The company is focused on leveraging advanced technologies to deliver reliable and cost-effective power solutions to its customers.
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