Vena Energy has reached the financial close for its Opus solar energy project in the Philippines. The financing involves participation from seven international financial institutions. These include BNP Paribas (Singapore), Crédit Agricole Corporate and Investment Bank (Singapore), DBS Bank Ltd., Intesa Sanpaolo S.P.A. (Hong Kong), MUFG Bank Ltd. (Singapore), Standard Chartered Bank (Singapore) Limited, and Sumitomo Mitsui Banking Corporation.
The Opus solar energy project is a ground-mounted solar project located in Ilocos Norte with an installed capacity of 300 MWp. Once commissioned, it is expected to supply clean electricity to around 445,000 households. Moreover, it will offset around 349,000 tonnes of greenhouse gas emissions. Furthermore, the project falls under the Department of Energy’s Green Energy Auction Programme 2, which targets the installation of 3.4 GW of committed renewable energy capacity by 2026.
Earlier this month, Vena Energy signed a framework supply agreement with battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) for its Indonesia–Singapore renewable energy project planned in the Riau Islands. Under the agreement, Vena Energy’s Indonesian subsidiary, PT Infrastruktur Terbarukan Sedaya, will procure CATL’s EnerX BESS with a capacity of up to 4,000 MWh. The project will have more than 2 GWp of solar capacity with BESS, and clean energy will be exported to Singapore via a subsea transmission interconnector.
