Development of compact and fast modulators of infrared light has garnered strong research interests in recent years due to their potential applications in communication, imaging, and sensing. In this study, electric field induced fast modulation near-infrared light caused by phase change in VO2 thin films grown on GaN suspended membranes has been reported. It was observed that metal insulator transition caused by temperature change or application of electric field, using an interdigitated finger geometry, resulted in 7% and 14% reduction in transmitted light intensity at near-infrared wavelengths of 790 and 1550 nm, respectively. Near-infrared light modulation has been demonstrated with voltage pulse widths down to 300 µs at 25 V magnitude. Finite element simulations performed on the suspended membrane modulator indicate a combination of the Joule heating and electric field is responsible for the phase transition.