Vena Group, Singapore-based renewable energy developer, has reached financial close for its Opus Solar Energy Project in the Philippines. Vena Energy, the renewable energy arm of Vena Group, has secured full international project financing for the development. According to the company, the project has been awarded under the Department of Energy’s Green Energy Auction Program 2. The Opus Solar Energy Project is a 300 MWp ground-mounted solar facility located in Ilocos Norte. Project financing has been arranged through 7 international banks providing US dollar-denominated loans. As per Vena Group, the transaction represents its first Philippine project financed entirely by international lenders. Once operational, the project is expected to generate electricity for 445,000 households.This is equal to planting nearly 5.8 million treesor taking 76,000 vehicles off the road, also reducing GHG emissions by 349,000 tons.