Indonesia sovereign fund invests in Philippines RE market

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November 12, 2026 | 12:00am

MANILA, Philippines — Fresh capital from Jakarta is making its way into the Philippines, with Indonesia’s sovereign wealth fund backing a portfolio of solar and wind power projects.

The Indonesia Investment Authority (INA) has invested in a 2.8-gigawatt portfolio of Singapore-based Vena Global Group Pte. Ltd., comprising operational, contracted and under-construction projects across the Philippines and Indonesia.

Financial details of the transaction were not immediately made available.

Vena Group CEO Nitin Apte described the Philippines and Indonesia as “important markets” in Southeast Asia’s energy transition, highlighting the partnership with INA as a key step toward bringing more projects to completion.

“Together, we can accelerate the delivery of high-quality renewable energy (RE) infrastructure that strengthens energy security, supports economic development and advances decarbonization,” Apte said.

For INA, the investment aligns with its strategy of partnering with experienced global and regional players to secure long-term returns while supporting the region’s energy transition.

“We look for investments that stand on their commercial merits while retaining clear strategic relevance for Indonesia,” INA CEO Oki Ramadhana said. “Together, we see a foundation for further investment in RE, both in Indonesia and across the region.”

In August 2025, the Vena Group signaled plans to expand its Green Fund partnerships across Japan, North Asia Pacific and Southeast Asia to accelerate regional RE development.

The Green Fund platform, originally launched in Japan, seeks to provide long-term institutional investors with access to RE projects developed and operated by Vena Energy.

“By bringing high-quality, long-term institutional investors alongside Vena Energy in selected RE portfolios, we can retain long-term ownership and operational involvement while rotating capital into our accelerated construction program and new growth opportunities,” Vena Group chief investment officer Simone Grasso said.

Through Vena Energy, the Vena Group currently owns and operates at least six assets totaling over 330 megawatts across the Philippines.