INDONESIA Investment Authority (INA), the country’s sovereign wealth fund, has invested in a 2.8-gigawatt (GW) portfolio of renewable energy projects in the Philippines and Indonesia owned by Singapore-based Vena Global Group Pte. Ltd.
The investment covers solar and wind projects that are operational, under construction, contracted, or in various stages of development, Vena Group said in a statement on Wednesday.
The companies did not disclose the investment amount, INA’s ownership stake, or the share of the portfolio located in the Philippines.
“We look for investments that stand on their commercial merits while retaining clear strategic relevance for Indonesia,” INA Chief Executive Officer Oki Ramadhana said.
He said the partnership provides exposure to a diversified Southeast Asian renewable energy portfolio, including operating assets and future development opportunities in Indonesia.
The investment forms part of Vena Group’s strategy of securing institutional capital for its renewable energy projects across the Asia-Pacific region.
“Indonesia and the Philippines are important markets for the region’s energy transition, and this partnership brings together INA’s long-term investment perspective with Vena Group’s renewable energy development, construction and operating capabilities,” Vena Group Chief Executive Officer Nitin Apte said.
“Together, we can accelerate the delivery of high-quality renewable energy infrastructure that strengthens energy security, supports economic development and advances decarbonization,” he added.
Vena Group said the agreement is part of its Green Fund Partnership strategy, under which institutional investors participate in its renewable energy portfolio.
In August 2025, the company announced plans to expand the scale and geographical reach of these partnerships across Japan, North Asia-Pacific, and Southeast Asia to support its construction program.
In the Philippines, Vena Group operates renewable energy facilities through its subsidiary Vena Energy.
The company has six operating power plants with a combined capacity of 330.80 megawatts across Negros Occidental, Rizal, Leyte, Ilocos Norte, and Bukidnon.
Vena Group has a broader renewable energy portfolio of approximately 38 GW comprising solar, onshore wind, and offshore wind projects, alongside battery energy storage and green hydrogen and ammonia developments. — Sheldeen Joy Talavera
