Crédit Agricole CIB supports international solar financing for Vena Energy in the Philippines

Vena Energy has secured USD 310 million in financing for its 500 MWp Ixus Bugallon Solar Power Project, with Crédit Agricole CIB acting as Mandated Lead Arranger, Lender, and Modelling Bank.

Awarded under the second round of the Green Energy Auction Programme (GEA-2), the project benefits from a 20-year offtake agreement with the government-owned National Transmission Corporation, providing affordable clean energy to communities across the Philippines.

It represents our second project financing with Vena Energy in the Philippines within nine months, following the successful close of the 300 MWp Opus Solar Energy Project in December 2025, also awarded under GEA-2. Vena Energy, the renewable energy arm of Vena Group, is a leading low-carbon energy solutions provider in the Asia-Pacific region, through a renewable power pipeline of 30.5 GW across onshore/offshore wind and solar projects, and a low-carbon energy infrastructure pipeline including 26.2 GWh of BESS and 848 KTPA of green hydrogen and ammonia. Vena Energy has had a presence in the Philippines for over a decade and now holds a renewable asset portfolio exceeding 3 GW across the country.

This landmark transaction deepens our relationship with Vena Energy, reinforces Crédit Agricole CIB's sector leadership in renewable energy financing across Asia, and further strengthens our position to support the region's accelerating energy transition and capture future opportunities in this rapidly growing market.