MGen Renewable Energy, Inc. (MGreen) and Vena Energy recently held a ceremony to lay a time capsule in celebration of the continued progress and on-track construction of the 68 MWac solar project in Currimao, Ilocos Norte.
The project, a joint venture between MGreen and Vena Energy, is set to complete energization by the end of 2022, and commence commercial operations by the first quarter of 2023.
“Today is a celebration of both small and big wins, and even the trials we have successfully overcome along the way. We are most grateful for the continued support of the government of Currimao and Ilocos Norte, and to everyone working on the ground for the timely accomplishment of this solar facility with Vena Energy,” said Meralco PowerGen Corporation (MGEN) President and CEO Jaime T. Azurin.
“We are looking forward to commencing its operations soon and witnessing how it would help advance economic progress and create better lives for all,” he added.
“We are grateful to the government of Currimao and Ilocos Norte for their continued support for our second project here, and we look forward to delivering it on time safely for the benefit of the nation and our host communities,” said Vena Energy Philippines Head Samrinder Nehria. “We hope that through our partnership with MGreen, this project will play an important role in accelerating the energy transition in the Philippines.”
Among those who graced the event were Governor Matthew Marcos Manotoc and Vice Governor Cecillia Araneta-Marcos of the Provincial Government of Ilocos Norte, and Mayor Edward Quilala and Vice Mayor Sandra Cabreros of the Municipality of Currimao.
MGreen entered into a partnership with Vena Energy in February 2022 for the development, construction and operation of this new solar project.
MGreen is a wholly owned renewable energy unit of MGEN – the power generation arm of Manila Electric Company (Meralco).
Anchored on One Meralco’s long-term sustainability agenda, MGEN has set its sights on building 1,500 MW of renewable energy projects in the next 7 years.
In 2021, MGEN commenced commercial operations of BulacanSol’s 55 MWac solar plant located in San Miguel, Bulacan, followed by the construction of another 75 MWac solar project in Baras, Rizal through PH Renewables, Inc.
Vena Energy is a leading renewable energy company in the Asia-Pacific region that owns, develops, constructs, operates, manages, and commercializes a renewable energy portfolio totaling 18 GW of solar, onshore wind, offshore wind, battery energy storage, and hybrid renewable energy projects.
Vena Energy has a fully integrated business model and an extensive local presence throughout the region with 67 corporate and site offices in Australia, India, Indonesia, Japan, Philippines, South Korea, Taiwan, and Thailand.
Vena Energy is committed to engaging with local communities throughout the lifecycle of its portfolio projects, as well as incorporating internationally recognized Environmental, Social and Governance (ESG) standards into its strategy and business practices.