Indonesia Investment Authority, the country's sovereign wealth fund, has taken an equity position in a 2.8 GW portfolio of renewable energy projects owned by Singapore-headquartered Vena Group, in a transaction the companies describe as one of Southeast Asia's largest clean energy platforms.

The deal spans operational, construction, contracted, and development-stage solar and wind assets in Indonesia and the Philippines.

INA Invests in Vena Energy’s Indonesian Renewable Portfolio

The announcement, made by Vena Global Group Pte. Ltd. and Indonesia Investment Authority, marks INA's participation in what the companies characterise as a landmark partnership for the region's energy transition.

For INA, the investment sits within Green Energy, one of its designated priority sectors, and is anchored in Indonesia through operating solar and wind assets alongside a pipeline of further development opportunities in the country.

Partnership Combines Long-Term Capital With Development Capability

The partnership brings together INA's long-term investment mandate and focus on sustainable infrastructure with Vena Group's renewable energy development, construction, and operating capabilities across the Asia-Pacific region.

According to the announcement, the portfolio aims to support INA's objective of creating long-term economic and environmental value for Indonesia and the wider region.

INA's chief executive officer, Oki Ramadhana, framed the investment as a balance between commercial discipline and strategic relevance to Indonesia.

"We look for investments that stand on their commercial merits while retaining clear strategic relevance for Indonesia," Ramadhana said. "This partnership reflects that balance, combining participation in a diversified Southeast Asian platform with operating assets and future opportunities in Indonesia."

Ramadhana added that INA sees strong alignment between Vena Group's capabilities and its own long-term objectives, describing the transaction as "a foundation for further investment in renewable energy, both in Indonesia and across the region."

The investment reflects INA's stated approach of investing alongside experienced global and regional partners in assets that offer long-term, risk-adjusted returns while advancing the energy transition across Southeast Asia.

A Milestone in Vena Group's Institutional Partnership Strategy

For Vena Group, the transaction represents an important milestone in the continued expansion of its institutional investment partnerships across Asia-Pacific.

It advances the company's broader Green Fund Partnership strategy, which the group said in August 2025 it intended to scale up in both size and geographic reach across Japan, North Asia-Pacific, and Southeast Asia in support of an accelerated construction programme and continued regional growth.

The Green Fund platform was originally launched in Japan in 2019. It provides long-term institutional investors with access to renewable energy projects developed, constructed, and operated by Vena Energy, the renewable energy arm of Vena Group. The structure allows Vena Group to retain long-term ownership and operational involvement while rotating capital into new growth opportunities.

Simone Grasso, chief investment officer of Vena Group and global head of Vena Nexus, said the transaction marks an important milestone in the institutional partnership strategy the company outlined last year.

"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," Grasso said.

Grasso welcomed INA's investment perspective, commitment to sustainable infrastructure, and, in the company's words, its profound understanding of Indonesia and the broader Southeast Asian region, describing the sovereign wealth fund as a highly complementary partner. Grasso said Vena Group looks forward to working closely with INA as it continues to develop, construct, and operate the portfolio and pursue further growth across the region.

Focus on Indonesia and the Philippines as Transition Markets

Nitin Apte, chief executive officer of Vena Group, said the company is pleased to establish the strategic partnership as it continues to expand its renewable energy portfolio across Southeast Asia.

"Indonesia and the Philippines are important markets for the region's energy transition, and this partnership brings together INA's long-term investment perspective with Vena Group's renewable energy development, construction and operating capabilities," Apte said.

Apte said the partners aim to accelerate the delivery of high-quality renewable energy infrastructure that strengthens energy security, supports economic development, and advances decarbonisation.

He described the deal as the beginning of a long-term partnership as the group continues what he called its mission to "engineer a greener future across Asia-Pacific."

The Parties Behind the Deal

Vena Global Group Pte Ltd is described as a leading green solutions provider driving the energy and digital infrastructure transition across the Asia-Pacific region.

Through its renewable energy and digital infrastructure platforms, the group develops, owns, and operates integrated, sustainable, and cost-effective solutions intended to support the region's transition to a low-carbon and AI-enabled future.

Indonesia Investment Authority is Indonesia's sovereign wealth fund, mandated to increase investment in support of the country's sustainable development. The fund's participation in the transaction underscores its mandate-directed focus on sectors including green energy.

What the Transaction Covers

The 2.8 GW portfolio in which INA has invested comprises solar and wind projects at four distinct stages of maturity: operational, under construction, contracted, and in development.

The assets are located in Indonesia and the Philippines, with the Indonesian component including operating solar and wind assets and a pipeline of further development opportunities in the country.

The companies did not disclose the financial terms of the investment in the announcement. Neither did they specify the individual projects included in the portfolio or the split of capacity between the two countries.

Regional Context and Outlook

The partnership positions both parties for further collaboration on renewable energy in Indonesia and across Southeast Asia, according to statements from both chief executives.

INA's participation represents its move into one of the region's largest clean energy platforms, while Vena Group gains a sovereign wealth fund partner whose mandate is anchored in one of its core Southeast Asian markets.

The transaction also signals the continuation of Vena Group's Green Fund model beyond its Japanese origins, extending the platform's reach into Southeast Asia through a partner with both regional investment experience and a long-term holding perspective.

Both companies indicated they expect the partnership to serve as a basis for additional renewable energy investment in the region going forward.

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