Bullish! Vena Energy eyes 300-500 MW solar and wind projects in the Philippines

Singapore-based Vena Energy has announced its plan to aggressively expand its renewable energy portfolio in the Philippines, with the goal of putting up 300-500 MW of projects in the next two to three years.

According to Vena Energy Philippines head Samrinder Nehria, the company will partner with other power developers to pursue these projects and address the gap in supply and demand in the country’s energy market.

The focus will be on developing solar and wind projects.

Vena Energy currently has about 280 MW of renewable energy generation in the Philippines, including the recently completed Garcia 2 Solar Project in Currimao, Ilocos Norte of Nuevo Solar Energy Corp., a joint venture with MGen Renewable Energy Inc.

The company has a fully integrated business model and an extensive local presence in the Asia-Pacific region.

Semirara unit fined over reporting lapses

Consunji-led Semirara Mining and Power Corp. (SMPC), has been fined P400,000 by the Philippine electric power regulator for non-compliance with reportorial requirements related to unplanned outages at its coal-fired power plants in 2019.