By the Blocktec Editorial Team
Indonesia's sovereign wealth fund, the Indonesia Investment Authority (INA), is investing in a 2,800-MW renewable energy portfolio of Singapore-based Vena Global Group. The deal was announced on November 11, 2026, and covers solar and wind assets in Indonesia and the Philippines. The amount INA is putting in was not disclosed.
What The Deal Covers
The portfolio totals about 2.8 gigawatts (GW) of solar and wind capacity. One gigawatt equals 1,000 megawatts (MW), so the full package is roughly 2,800 MW. It mixes projects at every stage: some already operating, some under construction, some contracted, and some still in development.
The deal is part of Vena's Green Fund platform, which was launched first in Japan. In August 2025, the group said it would extend these partnerships to Southeast Asia. The INA investment is the latest step in that expansion.
No timeline was given for the deal's closing, and none was given for the Pangasinan project.
The Philippine Projects In Detail
In the Philippines, the projects belong to Vena Energy, the group's operating arm. Vena Energy owns and runs at least six local assets with a combined capacity of more than 330 MW.
The named Philippine projects are:
- Astra solar plant, Currimao, Ilocos Norte: under construction.
- Opus solar plant, Paoay, Ilocos Norte: under construction. Together with Astra, it will add roughly 380 MW.
- Ixus Bugallon solar project, Pangasinan: a facility of about 500 MW, still in development.
Vena already operates two plants in Ilocos Norte: Mirae Asia Energy at 20 MW and Nuevo Solar Energy at 83.3 MW.
For scale, the two plants being built in Currimao and Paoay will add more than the entire existing Philippine fleet of over 330 MW. The planned Bugallon plant alone, at about 500 MW, would be larger than that existing fleet.
What The Executives Said
Vena Group CEO Nitin Apte said the tie-up supports energy security, economic development and decarbonization. He called the Philippines and Indonesia key markets in the region's energy shift.
INA CEO Oki Ramadhana said the fund looks for investments that stand on commercial merit. Vena chief investment officer Simone Grasso described the model as bringing long-term institutional investors into selected renewable portfolios.
What Happens Next
The two Ilocos Norte plants are still being built, so construction activity continues on those sites. The Pangasinan project is in development, which means it has not yet started building, and no schedule has been announced. Closing dates for the INA deal are also unannounced. Watch for further statements from Vena as the partnership moves ahead.
What This Means For Builders In Ilocos And Pangasinan
A solar farm is mostly panels, but panels need buildings around them. Each site typically needs control rooms, substation buildings and staff quarters. Contractors and EPC firms working around Currimao, Paoay and Bugallon may be sourcing walls for these structures once the work is packaged and tendered. We have no information on those tenders, so treat this as a planning cue, not a confirmed opportunity.
For rooms housing switchgear and batteries, fire rating matters. Blocktec's AAC walls carry a 4-hour fire resistance rating, and our blocks are laid with thin-bed adhesive and finished with skimcoat, so it's walang palitada. That cuts a wet trade from the schedule. A trained mason with a helper does about 10-12 m2 per 8-hour shift, and up to 20 m2 on straight runs, which helps on remote sites where labor days cost money.
On cost, Blocktec's own sample comparison showed up to about 21% savings on the wall system versus hollow blocks. Results are project-dependent, so check against your actual wall area and spec.
If you are estimating for a plant building in northern Luzon, our Laguna (Cabuyao) hub and Metro Manila (Marikina) hub can help you plan supply. Send us your quantities early so delivery can match your schedule.
Sources
- Context.ph: Indonesian sovereign wealth fund links up with Vena Global Group in renewable energy projects in PH and Indonesia (Nov 11, 2026)
- The Philippine Star: Indonesia sovereign fund invests in Philippines RE market (Nov 12, 2026)
Planning a control room or substation building for a solar project in Ilocos Norte or Pangasinan? Send your wall area or blueprints to sales@blocktec.ph or blocktec.ph for a free AAC wall-system estimate.