Deal #10625

Philippines

Created at

2024-09-08

Last update

2024-10-23

Last full update

2024-10-23

Land area

Size in operation (production)

[2016] 20 ha
[2023, current] 95.81 ha

Comment on land area

Based on RS polygon generated

Intention of investment

[2023, current] Solar park (95.81 ha)

Comment on intention of investment

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.

Negotiation status

[2019-11-26] Intended (Expression of interest)
[2022-02-08, current] Concluded (Contract signed)

Comment on negotiation status

(2019-11-26) Ilocos Norte continues to attract more investors on renewable energy as a 72-megawatt solar farm is being eyed in Currimao, Ilocos Norte. (2022-02-08) Vena Energy, Asia-Pacific’s leading renewable energy company, announced today that it has entered into a joint-venture agreement with Meralco Renewable Energy Inc (MGreen) for the development of the 68 MW “Garcia 2” Solar Project, located in the municipality of Currimao in Ilocos Norte in the Philippines.

Implementation status

[2016] In operation (production)
[2022-03] Startup phase (no production)
[2023-04, current] In operation (production)

Comment on implementation status

the existing 20-megawatt solar project in Barangay Paguludan-Salindeg which was inaugurated in 2016. The area covers 24 hectares of forestland. Vena and MGreen’s joint experience and expertise delivered the project successfully within 12 months.