MGreen and Vena Energy to Develop 450 MW Solar Power Project in Pangasinan, Philippines

MGen Renewable Energy Incorporation (MGreen), a subsidiary of Meralco, has announced a partnership with Vena Energy Philippines to develop a 450 MWac solar power project in Bugallon, Pangasinan, Philippines. This ambitious venture marks a significant step towards enhancing the country’s renewable energy capacity.

Joint Venture for Sustainable Energy

The project will be executed under the newly formed entity, 3 Barracuda Energy Corporation, which combines the expertise of both MGreen and Vena Energy. Together, these companies will collaborate on the construction and operation of the solar power plant, demonstrating a shared commitment to sustainable energy development in the Philippines.

Timeline for Development and Operations

The joint venture is progressing towards financial closure and the start of construction by the third quarter of 2024. The project aims to begin commercial operations by the last quarter of 2025, contributing significantly to the region’s energy supply and supporting the Philippines’ renewable energy goals.