Vena Energy has achieved financial close for the 500 MWp Ixus Bugallon solar power project in Bugallon, Pangasinan, Philippines. The project secured approximately $310 million in senior debt financing from a syndicate of banks including BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd., ING Bank N.V., Intesa Sanpaolo S.p.A., MUFG Bank Ltd., Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation.
Furthermore, the project, located adjacent to Vena Energy’s existing 550 MWp Bugallon solar power project, will increase Vena Energy’s capacity in Pangasinan to approximately 1 GWp upon completion. The project was awarded under the Philippine Department of Energy’s Second Green Energy Auction Program (GEAP 2). Once operational, it is expected to supply renewable electricity to around 650,000 households and offset more than 570,000 tonnes of carbon emissions annually.
In July 2026, Vena Energy secured A$1.4 billion in green financing to support its Australian solar and BESS assets. The financing is backed by BNP Paribas, Bank of China, DBS Bank, ING Bank, Intesa Sanpaolo (IMI CIB Division), Mizuho Bank, MUFG Bank, OCBC, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank and Westpac Banking Corporation. The financing covers greenfield project funding with the refinancing of existing facilities, across two transactions.