Vena Energy is partnering with Shell Eastern Trading and received conditional approval from Singapore’s Energy Market Authority (EMA) to export 400 MW of solar power from Indonesia’s Riau Islands to Singapore.The EMA granted the conditional approval at the Indonesia International Sustainability Forum in Jakarta.
Further, the project is expected to generate over 2.6 TWh of renewable energy annually through more than 2 GW of solar PV plants and 8 GWh of large-scale battery storage. This will offer Singapore a semi-firm, dispatchable green energy solution, supporting the country’s transition to a low-carbon future.
In August 2024, Vena Energy finalised an investment agreement with MGen Renewable Energy Inc. (MGreen), renewable energy division of Meralco PowerGen Corporation. This agreement is for the joint development of the 550 MW Bugallon Solar Power Project, situated in Bugallon, Pangasinan, under 3 Barracuda Energy Corporation.
