Nuevo Solar Energy Corp. (NSEC), a joint venture between MGen Renewable Energy, Inc. and Vena Energy, has launched the commercial operations of the 68-megawatt-AC (MWac) solar project in Currimao, Ilocos Norte.
“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 Power Gen Corporation (MGen) president and CEO Jaime Azurin said.
Azurin said that the power produced by the solar plant will be supplied to MPower, the local electricity supply unit of the Manila Electric Co. (MERALCO). The project is also seen to contribute to the targeted 35% share of renewable energy in the country’s energy mix.
The “Garcia 2” solar project is part of NSEC’s initiative in creating 1,500 MW of renewable energy projects in the next five years.
According to Samrinder Nehria, the Head of Vena Energy Philippines, the Garcia Solar Project is a significant accomplishment in their combined efforts toward a sustainable future and the development of Vena Energy’s renewable energy portfolio in the 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,” Nehria added.
Vena Energy is an RE company based in Singapore, that has a renewable energy portfolio of 40 gigawatts in the Asia-Pacific region.
In 2021, MGen acquired a 20% equity in Powersource First Bulacan Solar Inc., a 55 MW solar facility in San Miguel, Bulacan. It is also developing a 75 MWac solar project in Baras, Rizal through PH Renewables, Inc.
MGreen is MGen’s renewable energy subsidiary under MERALCO.
