MGen Renewable Energy, Inc. (MGreen), the renewable energy investment arm of the Manila Electric Co. (MERALCO) has formed a joint venture with Vena Energy to construct its 68 megawatt-AC (MWac) solar project in Currimao, Ilocos Norte.
The solar project is expected to be completed by the end of the year, while commercial operations is slated for the first quarter of 2023.
“We are looking forward to commencing its operations soon and witnessing how it would help advance economic progress and create better lives for all,” Meralco PowerGen Corporation (MGEN) president and CEO Jaime Azurin said in a statement.
MGreen first entered into a partnership with Vena Energy in February for the development and operation of the solar project.
“We are grateful to the government of Currimao and Ilocos Norte for their continued support for our second project here, and we look forward to delivering it on time safely for the benefit of the nation and our host communities,” Vena Energy Philippines head Samrinder Nehria said in a statement.
MGreen is a wholly owned RE unit of MGEN – which is looking to build 1,500 MW of RE projects in the next seven years.