Vena Energy to Invest P52B in PH Renewable Energy
Singapore-based Vena Energy plans a P52-billion investment to add 1.29 GW of renewable energy capacity in the Philippines, aligning with the nation's targets for increased renewable energy share in power generation.
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The Philippine government expresses strong confidence in achieving its goal of a 35 percent share of renewable energy (RE) in the energy mix by 2030. The Department of Energy plans to auction 25 gigawatts (GW) of RE capacity in the next 12 months, aiming to spur investments in diverse technologies like solar, wind, and geothermal. Currently, RE accounts for about 25 percent of the country's energy mix.