# Indonesia Investment Authority Backs Vena Group's 2.8 GW Solar and Wind Projects

> Indonesia Investment Authority invested in Vena Group's 2.8 GW solar and wind portfolio across Indonesia and the Philippines.

- Published: 2026-11-11T05:23:09+00:00
- Section: Funding
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-11/vena-group-ina-renewable-investment
- Source: [DealStreetAsia](https://www.dealstreetasia.com/stories/ina-invests-in-vena-group-renewable-energy-500603)

## Key takeaways

- INA invested in Vena Group's 2.8 GW renewable energy portfolio spanning Indonesia and the Philippines.
- The portfolio includes the 72 MW Tolo Wind Project in Jeneponto, South Sulawesi.
- Norfund and Impact Fund Denmark agreed in October to acquire a combined 49% equity interest in Vena Energy's 500 MWp Ixus Bugallon solar project.

Indonesia Investment Authority (INA) has invested in Singapore-based Vena Group's renewable energy projects in Indonesia and the Philippines, covering a 2.8 GW portfolio of solar and wind assets. [DealStreetAsia](https://www.dealstreetasia.com/stories/ina-invests-in-vena-group-renewable-energy-500603) reported the announcement on November 11, 2026. The companies did not disclose the investment amount, stake size, or valuation.

## Vena Group's 2.8 GW Portfolio and INA's Role

The portfolio includes operational, under-construction, contracted, and development-stage solar and wind projects. A portion sits in Indonesia, comprising operating assets and further development opportunities, including the 72 MW Tolo Wind Project in Jeneponto, South Sulawesi.

"We look for investments [based] on their commercial merits while retaining clear strategic relevance for Indonesia," said INA chief executive Oki Ramadhana. He described the partnership with Vena Group as a combination of "a diversified Southeast Asian platform with operating assets and future opportunities in Indonesia".

For Vena Group, the deal expands its Green Fund Partnership strategy, which brings institutional investors into selected renewable energy portfolios. The company said the model allows it to retain long-term ownership and operational involvement while freeing up capital for construction and new projects.

"This transaction is an important milestone in the institutional partnership strategy we outlined last year," said Simone Grasso, Vena Group's chief investment officer and global head of Vena Nexus. "By bringing high-quality, long-term institutional investors alongside Vena Energy in selected renewable energy portfolios, we can retain long-term ownership and operational involvement while rotating capital into our accelerated construction programme and new growth opportunities."

Nitin Apte, Vena Group's chief executive, said Indonesia and the Philippines were important markets for the region's energy transition. The partnership, he said, brings together INA's long-term investment perspective and Vena Group's development, construction and operating capabilities.

Green energy is one of INA's priority sectors. The wealth fund said the investment reflects its approach of working with global and regional partners on assets that can deliver long-term, risk-adjusted returns while advancing the energy transition.

## Vena Group's Earlier Institutional Partnerships

In October 2026, Norfund and [Impact Fund Denmark](https://akta.pro/company-profiles/0007chy/impact-fund-denmark) signed agreements to acquire a combined 49% equity interest in Vena Energy's 500 MWp Ixus Bugallon solar project in Pangasinan, the Philippines. That transaction remains subject to the Philippine Competition Commission's approval and other customary closing conditions. The project reached financial close in July, securing about $310 million in senior debt from eight international banks.

In August 2026, Vena Group completed the sale of its India renewable energy platform, comprising about 1 GW of operational capacity, to Inox Neo Energies, a subsidiary of [Inox Clean Energy](https://akta.pro/company-profiles/009abfp/inox-clean-energy). Morgan Stanley and MUFG advised Vena Group on the transaction.

## Vena Group's Recent Project Milestones

In October 2026, Vena Group started up a 72-MW solar park on a former golf course in Japan, backed by a virtual power purchase agreement with LY Corp, Renewablesnow reported. The facility, operated by Maniwa Solar, generates clean electricity equivalent to the annual consumption of about 18,500 homes.

In September 2026, Vena Group's 46.83-MW NRE Nakagawa 2 Battery Storage Project was selected in a Japanese auction, Renewablesnow reported.

## Companies in this story

- Vena Group · website: https://venagroup.com
- [Inox Clean Energy company profile](https://akta.pro/company-profiles/009abfp/inox-clean-energy) · website: https://inoxclean.com
- [Impact Fund Denmark company profile](https://akta.pro/company-profiles/0007chy/impact-fund-denmark) · website: https://impactfund.dk

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