Vena Energy and MGen Renewable Energy Inc.
(MGreen), a subsidiary of Meralco PowerGen Corporation, have formalized a partnership to develop a 550 MW solar power project in the Pangasinan region of the Philippines.
The project, called the Bugallon Solar Power Project, aims to strengthen the country’s energy infrastructure by increasing the share of renewable energy in the national mix.
Once up and running, the Bugallon solar power plant will be one of the largest solar installations in the country.
Construction is due to start this year, with commercial operation scheduled for the fourth quarter of 2025.
This strategic initiative responds to the growing demand for energy in the Philippines, while supporting the country’s efforts to reduce its dependence on fossil fuels.
Impact on energy diversification
The development of this project by Vena Energy, in partnership with MGen, is part of an overall strategy to diversify energy sources in the Philippines. Faced with growing energy supply challenges, the country is looking to significantly increase its solar energy production.
The addition of 550 MW to the national grid will stabilize supply, while helping to reduce energy costs over the long term.
For MGen, this collaboration with Vena Energy is an important step towards achieving its goal of 1,500 MW of renewable energy by 2030.
The project also strengthens MGen’s position in the Philippine energy market, diversifying its project portfolio and aligning its activities with national decarbonization objectives.
The Bugallon initiative represents a major step forward in the context of ongoing efforts to modernize and strengthen the Philippine power grid.
Economic and industrial consequences
The Bugallon project will bring significant economic benefits to the Pangasinan region.
In addition to contributing to the country’s energy security, the project is expected to create numerous local jobs during the construction phase, as well as opportunities for local suppliers.
Investment in this solar infrastructure could also attract other similar projects in the region, strengthening the Philippines’ position as a regional leader in the renewable energy sector.
The partnership between Vena Energy and MGen is a concrete example of how international and local energy companies can work together to meet the growing energy needs of a rapidly expanding market like the Philippines.
By combining local expertise and international resources, this solar project promises to play a crucial role in the evolution of the Philippine energy landscape.
