Currimao, Ilocos Norte—Nuevo Solar Energy Corp., a joint venture of MGen Renewable Energy Inc. and Singaporean firm Vena Energy, on Thursday inaugurated the $65-million (P3-billion) 68-megawatt Garcia 2 Solar Project in this town.
NSEC held the switch-on ceremony for the solar power plant on Thursday.
“There is a good synergy between our two companies, and we hope we can expand more,” Meralco PowerGen Corp. president and chief executive Jaime Azurin said. Meralco PowerGen is the power arm of power retailer Manila Electric Co.
NSEC said the solar plant would contribute to the attainment of 35-percent renewable energy target mix by 2030 set by the government and provide additional power supply through MPower, Meralco’s local electricity supply arm.
“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,” Azurin said.
Ilocos Norte Governor Matthew Joseph Marcos Manotoc pledged the local government’s continued support to NSEC “in their further expansion that we are already discussing.”
“We want to make it as easy as possible for NSEC, for we share our over-arching and key goal of the renewable sector,” Manotoc said.
He said Ilocos Norte is known as the wind energy capital of the Philippines, but solar energy would also play a crucial role to address the growing power needs of the province.
‘We see that these energy issues will only grow. Our energy demand and energy problems will only grow in the near future, and we are happy that we have a partner in NSEC that is addressing this as we speak,” Manotoc said.
Vena Energy Philippines head Samrinder Nehria the solar project marks a significant milestone in Vena Energy’s renewable energy portfolio in the Philippines.
Nehria said Vena and MGreen’s joint experience and expertise delivered the project successfully within 12 months.
Other officials who attended the event were Mayor Edward Quilala of Currimao, Vice Governor Cecilia Araneta-Marcos of Ilocos Norte and Rep. Eugenio Angelo Barba of the Ilocos Norte second Congressional District.
The NSEC solar plant is a part of the larger initiative of MGen to build 1,500 MW of renewable energy projects in the next five years.
MGen started its journey towards a balanced, low-carbon energy mix in 2021 through the opening of BulacanSol’s 55-MW solar plant in San Miguel, Bulacan.
More projects utilizing renewable energy are underway including PH Renewables Inc.’s 75-MW solar project in Baras, Rizal which is set to commence commercial operations this year.
Headquartered in Singapore, Vena Energy is a leading renewable energy company in the Asia-Pacific region that owns, develops, constructs, operates, manages and commercializes a renewable energy portfolio exceeding 40 gigawatts of solar, onshore wind, offshore wind, energy storage and hybrid renewable energy projects.