MANILA, Philippines — Solar Philippines plans to launch a P1.3-billion initial public offering to finance its 500-megawatt solar project in Nueva Ecija.
The maiden share sale will be done through its wholly owned subsidiary Solar Philippines Nueva Ecija Corp. (SPNEC), the corporate vehicle for the planned 500-MW solar farm in Peñaranda, Nueva Ecija.
Solar Philippines said the IPO proceeds would serve as the equity for the construction of the project’s first 225 MW, which would be larger than any solar project operating in the Philippines today.
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