Norfund and Impact Fund Denmark to Invest in Vena Energy's 500 MWp Ixus Bugallon Solar Power Project in the Philippines

Tweet

Vena Energy’s existing 550 MWp Bugallon Solar Power Project in Pangasinan, Philippines, which is next to the 500 MWp Ixus Bugallon Solar Power Project now under construction. Image credit: Vena Energy

Singapore, October 2026 – Vena Energy, Norfund, the Norwegian Investment Fund for Developing Countries, and Impact Fund Denmark announced that they have signed agreements on investing a combined 49% equity interest in the 500 MWp Ixus Bugallon Solar Power Project in Bugallon, Pangasinan, Philippines.

--------------------------------------------------------------------------------

• Norfund and Impact Fund Denmark have signed agreements to invest a combined 49% equity interest in the 500 MWp Ixus Bugallon Solar Power Project in Bugallon, Pangasinan, Philippines.
• The transaction remains subject to the approval of the Philippine Competition Commission ("PCC") and other customary closing conditions.
• The project is expected to supply the equivalent annual electricity needs of approximately 650,000 Philippine households and avoid approximately 570,000 tonnes of CO₂ emissions annually once operational.

--------------------------------------------------------------------------------

Completion of the transaction is subject to the approval of the Philippine Competition Commission (PCC), and other customary closing conditions. The Ixus Bugallon Solar Power Project represents a significant addition to the Philippines’ growing renewable energy capacity.

Awarded under the Philippine Department of Energy’s second Green Energy Auction Program (GEAP 2), the Ixus Bugallon Solar Power Project is expected to generate enough renewable power to supply the equivalent annual electricity needs of approximately 650,000 Philippine households once operational, while avoiding around 570,000 tonnes of CO₂ emissions annually.

The project reached financial close in July 2026, securing approximately USD 310 million in senior debt financing from a syndicate of eight international banks. This reflects strong international lender appetite for quality large-scale renewable energy infrastructure in the Philippines.

The transaction is expected to contribute to the continued growth of renewable energy generation capacity in the country while supporting long term sustainability objectives.

Nitin Apte, Chief Executive Officer of Vena Group, said, “We are pleased to partner with Norfund and Impact Fund Denmark for the Ixus Bugallon Solar Power Project. The Philippines is an important market for Vena Energy, and this project demonstrates the scale of renewable energy infrastructure that can be delivered by bringing together strong development capabilities and long-term institutional capital. Together we look forward to supporting the Philippines’ energy transition and contributing to sustainable economic development as we continue to engineer a greener future across Asia-Pacific.”

Simone Grasso, Chief Investment Officer of Vena Group and Global Head of Vena Nexus, said, “This transaction represents another important milestone in our institutional partnership strategy. Once complete, it will bring Norfund and Impact Fund Denmark alongside Vena Energy, allowing us to retain long-term ownership and operational involvement while rotating capital into our construction programmes and future growth. We look forward to progressing the transaction towards completion.”

Erik Sandersen, Chief Executive Officer of Norfund, said, “Norfund’s Climate Investment Fund is set up to avoid emissions in emerging markets, and the Ixus Bugallon Solar Power Project is a great example of what what we want to do more of. The project is expected to avoid more than half a million tonnes of CO2 every year. We are very happy to partner with Vena Energy and Impact Fund Denmark to contribute to the renewable energy transition in the Philippines.”

Lars Bo Bertram, Chief Executive Officer of Impact Fund Denmark, said, “The Philippines is a growing economy, and demand for electricity is rising rapidly. Today, however, a large share of the country’s electricity is generated from coal. To ensure that economic growth does not lead to even higher emissions, significant investment in renewable energy is needed. This project demonstrates how economic growth and the green transition can go hand in hand.”

---------------------------------------------------------

About Vena Group

Vena Global Group Pte Ltd (“Vena Group”) is a leading green solutions provider driving the energy and digital infrastructure transition across the Asia-Pacific region. Through its renewable energy arm, Vena Energy, and digital infrastructure platform, Vena Nexus, Vena Group develops, owns and operates integrated, sustainable and cost-effective solutions that support the region’s transition to a low-carbon and AI-enabled future.

For more information, please visit www.venagroup.com.

About Norfund

Norfund is the Norwegian Investment Fund for developing countries with a mission to create jobs and improve lives by investing in businesses that drive sustainable development. Owned and funded by the Norwegian Government, Norfund is the Government’s most important tool for strengthening the private sector in developing countries and reducing poverty. Norfund’s committed portfolio amounts to USD 4.5 billion, with investments across Sub-Saharan Africa, South/Southeast Asia, and Latin America. Additionally, Norfund manages the Norwegian Climate Investment Fund, which focuses on reducing or avoiding greenhouse gas emissions by investing in renewable energy in developing countries with large emissions from coal and other fossil fuel production.

For more information, please visit: www.norfund.no.

About Impact Fund Denmark

Impact Fund Denmark is a Danish impact investor and Denmarks' Development Finance Institution contributing to green, just and inclusive societies as well as supporting the Sustainable Development Goals. Impact Fund Denmark provides risk capital to companies operating in developing countries across Africa, Asia, Latin America and Ukraine. Investments are made on commercial terms in the form of equity, loans and guarantees. In addition, through Public Infrastructure, Impact Fund Denmark offers concessional finance through loans and grants to secure access to financing for major public infrastructure projects in developing countries that cannot be financed on market terms.

Read more at www.impactfund.dk

Cebuana Lhuillier Foundation Supports CBCP’s Church Heritage Efforts Through Proyekto Custodia

Tweet

Cebuana Lhuillier Foundation Inc. (CLFI) through Proyekto Custodia: The National Sacred Art and Church Heritage Initiative, is supporting the Catholic Bishops’ Conference of the Philippines (CBCP) in its efforts to safeguard the country’s religious art. As part of this program, more than 100 antique religious artworks, devotional icons, and ceremonial church objects from the collection of Cebuana Lhuillier Founder and Chairman, Philippine Ambassador to Spain and Andorra, H.E. Philippe J. Lhuillier, will be shared with selected churches across the Philippines.

Representatives of Cebuana Lhuillier Foundation Inc. and the Catholic Bishops’ Conference of the Philippines (CBCP) formalize their partnership for Proyekto Custodia: (L-R) Fr. Milan Ted Torralba; CBCP President Archbishop Gilbert Garcera; CLFI Division Head for Programs and Development Rhea B. Peñaflor; and Sebastien L. Lhuillier, representing the Lhuillier family.

Proyekto Custodia aims to help the CBCP care for the country’s religious and artistic legacy by bringing these objects to historic churches, missionary parishes, and rural chapels, where they can be appreciated in settings that reflect their religious significance.

Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier, said the project reflects the family’s desire to support the Church’s work. “My father, Ambassador Lhuillier, has long appreciated how religious art serves as an avenue to showcase history. It is meaningful for us to share part of his collection with the Church and support the CBCP’s efforts to look after these pieces. Through Proyekto Custodia, we hope these artworks will find a home in churches where parishioners and visitors can learn about and appreciate their significance.”

Under the partnership, the CBCP will help endorse Proyekto Custodia to more than 100 heritage churches nationwide and guide the identification of suitable recipients.

In his message for the project, CBCP President Archbishop Gilbert Garcera emphasized that safeguarding religious art is a shared responsibility. “The preservation of our sacred heritage is not the responsibility of the clergy alone. It is a shared mission involving the Church, the laity, cultural institutions, private foundations, artists, historians, and local communities,” he said.

For Jo-Ann Tacorda, First Vice President and Chief Administrative Officer of Cebuana Lhuillier, coordination with recipient churches will be important to the project’s implementation: “We want each piece to go to a church where it can be properly cared for and appreciated. Working with the CBCP helps us understand each church’s needs and ensure that the artworks are placed in settings suited to their purpose and history.”

Through Proyekto Custodia, CLFI is supporting the CBCP’s efforts to care for the country’s religious art and keep these works part of church life across the Philippines.

Need a secure crypto app? GCash offers seamless transfers and quick registration via GCrypto

Tweet

Filipinos can securely open a trading account, transfer crypto from other wallets or exchanges, and trade up to 55 cryptocurrencies with zero cash-in fees directly in the GCash app.

Finance super app GCash has made exploring and managing digital assets more secure and accessible through GCrypto, powered by Philippine Digital Asset Exchange (PDAX). Found in GCash, the platform allows Filipinos to set up a crypto account in as fast as 30 seconds, seamlessly receive and transfer crypto holdings from other wallets and exchanges, securely trade digital assets on the market, and fund their portfolio with zero cash-in fees directly through their mobile phones..

By streamlining the onboarding process, supporting crypto transfers, and providing direct fiat-to-crypto conversion, GCrypto simplifies traditional barriers associated with digital asset platforms. Users can participate in global market movements without relying on complex peer-to-peer (P2P) workarounds or encountering funding delays, all on a platform they use everyday to manage their finances.

Across the country, digital platforms like GCrypto continue to democratize access to diverse asset classes, providing Filipinos with convenient, mobile-first ways to diversify their portfolios.

Simplified Onboarding and Convenient Transfers

Getting started on GCrypto is convenient. Users can complete verification, top up instantly from their GCash wallet, and trade 24/7 through their mobile phones without tedious paperwork submission.

In addition to in-app trading, GCrypto supports seamless send-and-receive functionality, helping users to easily move digital assets to and from external crypto wallets and exchanges, without needing to sell or liquidate their holdings. For example, transferring Bitcoin from another wallet to GCrypto is straightforward:

1. Tap Bitcoin on your GCrypto dashboard and select Receive.

2. Copy your receiving address or display the QR code.

3. Paste the address into your external wallet, confirm the transaction details match, and hit send.

Once confirmed on-chain, the funds appear in your GCrypto wallet, ready to hold or trade.

To register on GCrypto, fully verified eligible GCash users 18 years old and above need to open the app, select the GCrypto in the Invest tab, and complete the application process to receive instant approval. After registration, users can top up their trading wallet with no transfer fees and in real time from their GCash balance.

By integrating digital asset trading into a digital financial ecosystem already familiar to millions of Filipinos, GCash continues to fulfill its commitment of making financial tools safer, more accessible, and more inclusive for all. For more information, visit www.gcash.com.

Monster Munch! Here Are Some Tasty Snack Picks for your Horror Movie Marathon

Tweet

Make your next horror movie marathon more enjoyable with URC favorites like C2 Cool 

and Clean, Jack ‘n Jill Piattos, Chippy, Mang Juan

Whether you're watching with the whole barkada or braving a horror movie alone, there's a snack for every kind of movie night.

There's something about Halloween that makes us willingly chase the thrill of a good scare. We know that suspicious noise coming from the basement is probably bad news, and we know that splitting up is never a good idea. Yet somehow, we keep watching, eager to find out what happens next.

Of course, how you choose to scare yourself is entirely up to you. Some prefer watching horror movies with friends (because misery loves company), while others would rather enjoy a good scare alone. And then there are those who couldn't care less about what's playing, as long as there are snacks.

Whichever kind of horror movie watcher you are, here's what to munch on this Halloween.

For the Barkada That Screams Together: Chippy Barbecue and C2 Litro Lemon

You know it's going to be a good movie night when half the group is screaming at the screen and the other half is laughing at them.

Keep Chippy Barbecue within reach for everyone to munch on between jump scares and hilarious reactions. Throw in a C2 Litro Lemon for the group, and you've got the refreshments covered.

For the Horror Buff Who's Seen It All: Chicharron ni Mang Juan Espesyal Suka't Sili

We all know someone who takes their horror movies seriously. They've seen all the classics, know their way around foreign horror films, and have strong opinions about which sequels should never have been made. For them, one movie is never enough. It's always a full-blown horror marathon.

And what better way to keep the marathon going than with a snack that keeps you craving another bite? Keep Chicharron ni Mang Juan Espesyal Suka't Sili within reach for an asim-anghang treat that's *nakakagana*, perfect for munching on as you work your way through your horror movie watchlist.

For Those Who Dare to Watch Alone: Piattos Roadhouse Barbecue

There's watching a horror movie, and then there's watching a horror movie alone. With the lights off. At night.

If you're the type who enjoys a good scare without anyone interrupting, Piattos Roadhouse Barbecue makes the perfect companion for some well-deserved me-time. Think about it: no one talking over important scenes, no one asking you to explain the plot, and no one suggesting you switch to a comedy halfway through.

Just you, your go-to horror movie, and a bag of your favorite hexagonal potato crisps you don't have to share with anyone. Now that's what we call uninterrupted me-time.

For the One Who's Just There for the Snacks: Magic Chips Cheese

Let's be real: Not everyone who shows up for a horror movie night is actually interested in watching horror movies.

Maybe you were invited by a friend. Or maybe you heard there would be food and decided that was reason enough to leave the house.

If you're more invested in the snack selection than the movie itself, Magic Chips Cheese should be right up your alley. They're flavorful, crunchy, and satisfying enough to keep you occupied while everyone else is busy figuring out who's going to survive.

Whether you're screaming with the barkada, enjoying a solo scare, or simply showing up for the food, the right snacks and drinks can make any horror movie night more enjoyable. So, pick your favorite scary flicks, stock up on your go-to munchies from Universal Robina Corporation (URC). Get ready for a Halloween marathon filled with good scares and even better snacking.

Manulife Philippines and iCare HMO Partner to Advance Holistic Health and Financial Wellness

Tweet

Manulife Philippines, the local arm of leading international financial services provider Manulife, and iCare HMO, one of the country’s top health maintenance organizations, have entered into a strategic partnership to help companies offer employees more integrated health and financial protection.

-—--—-------------—----------------------------

* Under the newly signed partnership, Manulife will provide a group life insurance plan with accidental insurance benefits and optional supplementary second-layer medical cover for major critical illnesses to select iCare’s HMO customers, complementing their existing HMO coverage with additional financial protection.

*  The collaboration brings together iCare’s healthcare expertise and nationwide reach with Manulife’s protection and wealth solutions to help Filipinos better prepare for both medical and financial needs

-—--—-------------—----------------------------

Through this partnership, Manulife’s group life insurance benefit will be available to select iCare HMO group customers. The annually renewable coverage sits alongside employees’ existing healthcare benefits, giving corporate clients another option for building a more holistic employee benefits package that addresses both medica