The Solar Philippines group is building the world’s first large-scale solar-battery baseload project after securing a bidding advantage to supply distribution giant Manila Electric Co. (Meralco) with up to 200 megawatts of 24/7 capacity.   Source: Inquirer

Leviste-led Solar Philippines Batangas Baseload Corporation (SPBBC) offered power utility giant Manila Electric Company (Meralco) 200 megawatt (MW) baseload capacity or round-the-clock electricity supply for 20 years. The SPBBC offer was granted an “original proponent status” and will be subjected to a “challenge” in a competitive selection process (CSP) to be spearheaded by the third party bids and awards committee (TPBAC) of Meralco.   Source: Manila Bulletin

In its notice of approval dated July 28, 2022, the PSE also approved the proposed SRO timetable, with an offer period from Aug. 30 to Sept. 5, 2022. The company is looking to raise around P2.8 billion to P3.3 billion from the offer which will then be allocated toward project developments (including securing land and off-take agreements).    Source: Manila Times

Solar Philippines Nueva Ecija Corporation (SPNEC) has been given the go signal to conduct its Php3.3 billion stock rights offering (SRO). Proceeds from the offering will be used for project development which includes securing land of off-take agreements as part of SPNEC’s goal to develop 10 gigawatts (GW) of solar projects by 2025.    Source: Power Philippines