Vena Group, a premier green solutions provider spearheading the energy and digital infrastructure transition across the Asia-Pacific, announced the successful financial close of the 80.6 MWp Astra Solar Power Project located in Currimao, Ilocos Norte.
This milestone further expands Vena Group’s renewable energy portfolio in the region. The company already operates two solar facilities in Ilocos Norte and is currently developing the 300 MWp Opus Solar Energy Project, solidifying its role as a key player in the Philippine clean energy landscape.
Once operational, the Astra Solar Power Project will significantly bolster the local power grid with sustainable energy. Key projections include:
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Energy Output: Approximately 142 GWh of clean energy generated annually.
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Power Reach: Enough to supply electricity to roughly 120,500 Filipino households.
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Environmental Benefit: An estimated annual reduction of 95,400 tonnes of greenhouse gas emissions—the equivalent of planting more than 1.5 million trees.
The project is supported by a senior debt facility of approximately PHP 2.7 billion provided by Security Bank. Security Bank Capital acted as the Mandated Lead Arranger, Green Loan Coordinator, and Hedging Bank. This partnership underscores the growing appetite of domestic financial institutions for bankable, large-scale renewable projects.
Construction is currently underway, with the Astra Solar Power Project expected to reach commercial operation in the fourth quarter of 2026.
“The Astra Solar Power Project represents another important milestone in expanding sustainable and affordable clean energy capacity in the Philippines,” said Simone Grasso, Chief Investment Officer at Vena Group and Global Head of Vena Nexus. “This project deepens our presence in Ilocos Norte and builds on the strong operational track record of our existing assets in the region. We are pleased to partner with Security Bank on this financing, reflecting strong confidence in both the Philippine renewable energy sector and Vena Group’s disciplined execution capabilities.”
