Singapore's Vena Energy has secured $310 million (about P19 billion) in financing from eight foreign lenders to advance its large-scale solar project in Pangasinan, Philstar Biz reported.
The loan will support the development and construction of the solar farm, which is expected to contribute to the country's renewable energy capacity. The project aligns with the Philippine government's push for cleaner energy sources and reduced reliance on fossil fuels.
Vena Energy, a regional renewable energy developer, has been expanding its footprint in the Philippines. The Pangasinan solar farm is part of a broader portfolio of clean energy investments across Asia.