Key Takeaways
- • Indonesia's sovereign wealth fund, the Indonesia Investment Authority (INA), is investing in a 2.8-gigawatt renewable energy portfolio owned by Vena Global Group Pte. Ltd. across Indonesia and the Philippines.
- • The investment spans operating, under-construction, contracted and development-stage solar and wind projects, with both existing assets and a future project pipeline.
- • The deal expands Vena Group's Green Fund Partnership model, which allows long-term institutional investors to finance projects developed and operated by Vena Energy while freeing up capital for new developments.
- • INA CEO Oki Ramadhana frames the deal as balancing commercial merits with strategic relevance for Indonesia; Vena Group CEO Nitin Apte cites the Indonesia and Philippines as important markets for the region's energy transition.
Summary
Indonesia Investment Authority (INA), the country's sovereign wealth fund, is investing in a 2.8-gigawatt renewable energy portfolio owned by Vena Global Group Pte. Ltd., according to Bilyonaryo Business. The portfolio spans Indonesia and the Philippines and covers operating, under-construction, contracted and development-stage solar and wind projects. The investment reflects INA's effort to expand its exposure to Southeast Asia's growing clean energy sector, where clean energy is among the fund's priority investment sectors.
In a statement, INA chief executive Oki Ramadhana said the fund looks for investments that stand on their commercial merits while retaining clear strategic relevance for Indonesia. He said the partnership combines participation in a diversified Southeast Asian platform with operating assets and future opportunities in Indonesia.
Singapore-headquartered Vena Group said the transaction expands its network of institutional investors under its Green Fund Partnership strategy, first launched in Japan in 2019. Under the model, long-term investors finance renewable energy projects developed and operated by Vena Energy, the group's renewable energy arm. The structure frees up capital for new developments while Vena Energy maintains operational involvement. In August 2025, Vena Group announced plans to extend the partnership model across Japan, North Asia and Southeast Asia to support a faster rollout of renewable projects.
Vena Group chief executive Nitin Apte said Indonesia and the Philippines are important markets for the region's energy transition and that the partnership would help accelerate development of renewable energy infrastructure across the region. The article does not disclose the deal's financial terms or INA's stake size.
In a statement, INA chief executive Oki Ramadhana said the fund looks for investments that stand on their commercial merits while retaining clear strategic relevance for Indonesia. He said the partnership combines participation in a diversified Southeast Asian platform with operating assets and future opportunities in Indonesia.
Singapore-headquartered Vena Group said the transaction expands its network of institutional investors under its Green Fund Partnership strategy, first launched in Japan in 2019. Under the model, long-term investors finance renewable energy projects developed and operated by Vena Energy, the group's renewable energy arm. The structure frees up capital for new developments while Vena Energy maintains operational involvement. In August 2025, Vena Group announced plans to extend the partnership model across Japan, North Asia and Southeast Asia to support a faster rollout of renewable projects.
Vena Group chief executive Nitin Apte said Indonesia and the Philippines are important markets for the region's energy transition and that the partnership would help accelerate development of renewable energy infrastructure across the region. The article does not disclose the deal's financial terms or INA's stake size.
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