Leviste firm to invest P5 B to develop Western Batangas

In a statement, Leviste said this will be done in partnership with his renewable energy firm Solar Philippines Power Project Holdings, Inc. using funds raised from the sale of a majority stake in SP New Energy Corporation (SPNEC) to Meralco PowerGen Corporation (MGen) and other investors.   Source: Manila Bulletin

SPNEC makes it to MSCI index

Integrated solar developer SP New Energy Corp. (SPNEC) has replaced MREIT Inc. in the exclusive and coveted MSCI Philippines Small Cap Index.   Source: Manila Bulletin

Meralco raises stake in SPNEC to 55.96%

In a disclosure to the Philippine Stock Exchange (PSE), SPNEC said the additional shares represent 4.34 percent of its outstanding capital and brings MGreen’s stake in the company to 55.96 percent.   Source: Manila Bulletin

MGen financial chief joins SP New Energy

Solar Philippines New Energy Corp. (SPNEC), a subsidiary of Solar Philippines, appointed Meralco PowerGen Corp. (MGen) chief financial officer (CFO) Rochel Donato Garcia as its new treasurer and officer.   Source: Manila Bulletin

MGreen makes first payment in SPNEC takeover

In a disclosure to the Philippine Stock Exchange on Friday, Dec. 1, SPNEC said the Leviste-led firm has received P7 billion last Nov. 30 from MGen Renewable Energy, Inc. (MGreen) as an initial payment towards its P15.9 billion investment.   Source: Manila Bulletin

PSE lifts SPNEC trading suspension

The Philippine Stock Exchange (PSE) has lifted the suspension on the trading of the shares of SP New Energy Corporation (SPNEC) on Friday, Dec. 1, after the firm reported that its public float has been raised to 20.02 percent to meet the minimum public ownership requirement of 20 percent.   Source: Manila Bulletin

SPNEC to start building world’s largest solar farm this year

SP New Energy Corporation (SPNEC), the country’s emerging solar power giant, is planning to break ground this year its massive 3,000 megawatt Nueva Ecija solar expansion project. During the firm’s Annual Stockholders’ Meeting, Solar Philippines Founder Leandro Leviste said this is the project to which the company has invested the bulk of the proceeds of […]

MPIC could become SPNEC’s biggest owner for P23.75 B

Metro Pacific Investments Corporation (MPIC) has signed definitive agreements for an option to invest up to a total of P23.75 billion for 19 billion shares and becoming the largest shareholder with approximately 42.82 percent of SP New Energy Corporation (SPNEC). In a disclosure to the Philippine Stock Exchange, SPNEC said the option agreement granting MPIC […]

SPNEC changes name to SP New Energy Corp.

Solar Philippines Nueva Ecija Corporation’s change in its corporate name to SP New Energy Corporation (SPNEC) has started to be reflected on the systems of the Philippine Stock Exchange (PSE) on November 8, 2022. In a statement, the firm said this change reflects the company’s expansion from a single project in Nueva Ecija to a […]