Nuevo Solar Energy Corp. (NSEC), a joint venture between MGen Renewable Energy, Inc. (MGreen) and Vena Energy, inaugurated its 68 MWac “Garcia 2” Solar Project in Currimao, Ilocos Norte through a Switch-On Ceremony on March 30, 2023.
“Today we embark on a new chapter in our partnership with Vena Energy as we start the commercial operations of NSEC. Powered by our shared aspiration to provide clean and sustainable energy, we are proud to have helped accelerate the country’s energy transition and shall continue investing in clean and sustainable energy sources,” Meralco PowerGen Corporation (MGen) President and CEO Jaime Azurin said.
Apart from contributing to the attainment of 35% renewable energy target mix by 2030 set by the government, Azurin further highlighted that NSEC has set its sights to bring economic progress as it provides additional power supply for the country through MPower—a local electricity supply arm of Manila Electric Company (Meralco).
“The Garcia Solar Project marks a significant milestone in our collective efforts towards a sustainable future, as well as Vena Energy’s renewable energy portfolio in the Philippines,” said Samrinder Nehria, Head of Vena Energy Philippines. “We are delighted to partner with MGreen on this project, and it is a testament to our joint experience and expertise to deliver this project successfully within a span of only 12 months, and we look forward to more of such collaborations in the future.”
Also present at the event were Mayor Edward Quilala of the Municipality of Currimao, Governor Matthew Joseph Marcos Manotoc and Vice Governor Cecilia Araneta-Marcos of the Provincial Government of Ilocos Norte, and Congressman Eugenio Angelo Barba of the Ilocos Norte Second Congressional District.
MGreen is a wholly owned renewable energy unit of MGen, the power generation arm of Meralco. Anchored on One Meralco’s long-term sustainability agenda, NSEC’s 68 MWac solar plant is part of its larger initiative to build 1,500 MW of renewable energy projects in the next 5 years. In 2021, MGen started its journey towards a balanced, low-carbon energy mix through the opening of BulacanSol’s 55 MWac solar plant located in San Miguel, Bulacan. More projects utilizing renewable energy are underway including PH Renewables, Inc.’s 75 MWac solar project in Baras, Rizal which is set to commence commercial operations within 2023.
Headquartered in Singapore, Vena Energy is a leading renewable energy company in the Asia-Pacific region that owns, develops, constructs, operates, manages, and commercialises a renewable energy portfolio exceeding 40 GW of solar, onshore wind, offshore wind, energy storage, and hybrid renewable energy projects. Vena Energy has a fully integrated business model and an extensive local presence of over 800 employees throughout the region, and 72 corporate and site offices in Australia, India, Indonesia, Japan, Philippines, Singapore, South Korea, Taiwan, and Thailand. Vena Energy is committed to engaging with local communities throughout the lifecycle of its portfolio projects, as well as incorporating internationally recognized Environmental, Social, and Governance (ESG) standards into its strategy and business practices. For more information, please visit www.venaenergy.com.
