SPNEC’s P2.8-B SRO fully subscribed
Solar Philippines Nueva Ecija Corporation’s (SPNEC) P2.8 billion stock rights offering has been fully subscribed due to strong demand from its existing shareholders despite the challenging market conditions. In a disclosure to the Philippine Stock Exchange, the firm said the 1.88 billion new common shares were fully subscribed in the first and second round of […]
SPNEC’s SRO key to its 10-GW goal
The P2.8 billion to be raised by Solar Philippines Nueva Ecija Corporation (SPNEC) from its ongoing stock rights offering will be a catalyst for its goal of expanding into a P400-billion renewable energy company with a total capacity of 10 gigawatts (GW). “The SRO’s P2.8 billion proceeds will help complete the P10 billion that […]
SPNEC to acquire new 2,500 hectares for solar farm
Leviste-led Solar Philippines Nueva Ecija Corporation (SPNEC) will be securing additional 2,500 hectares of land in Bulacan and Nueva Ecija provinces for its expanding solar energy projects. The company noted that the funding for the property purchases will be sourced from the proceeds of SPNEC’s stock offering, although it has not specified yet the […]
SPNEC to acquire Solar Philippines’ assets by yearend
Solar Philippines Nueva Ecija Corporation (SPNEC) aims to complete its acquisition of the assets of parent company Solar Philippines worth about P60 billion by the end of this year. In a disclosure to the Philippine Stock Exchange, the firm said that the conclusion of its P3.3 billion Stock Rights Offering (SRO) in the coming […]
SPNEC to be renamed to SP New Energy Corporation
To integrate expanded renewable energy (RE) ventures into its corporate structure, Leviste-led Solar Philippines Nueva Ecija Corporation (SPNEC) is seeking green light from its board of directors, to have the company renamed to SP New Energy Corporation. The new corporate name is still subject to approval by the company’s stockholders and government regulatory authorities. […]
Solar PH offers 200MW capacity to Meralco
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 […]
SPNEC shareholders approve P60-B stock swap
Solar Philippines Nueva Ecija Corporation’s stockholders have approved its increase in authorized capital stock and the P60 billion share swap with parent company Solar Philippines Power Project Holdings Inc. In a disclosure to the Philippine Stock Exchange, the firm said it will raise its authorized capital to P50 billion from P10 billion and the new […]
SPNEC to absorb parent company via P60-B share swap
Solar Philippines Nueva Ecija Corporation (SPNEC) has approved a P60.9-billion asset-for-share swap with its parent company Solar Philippines Power Project Holdings, Inc. (SPPPHI). In a disclosure to the Philippine Stock Exchange, the firm said the swap involves the acquisition of 100 percent of the outstanding shares of SPPPHI and its affiliates in over 20 entities. […]
SPNEC to raise P10 B from SRO, private placements
Solar Philippines Nueva Ecija Corporation (SPNEC) is raising P10 billion from the capital market, including a planned stock rights offering (SRO), to complete its development of 10 GW of solar projects. In a disclosure to the Philippine Stock Exchange, the firm said its Board of Directors has approved the conduct of an SRO where eligible […]
SPNEC starts construction of its solar ranch
Using its proceeds from its P2.7 billion initial public offering, Solar Philippines Nueva Ecija Corporation (SPNEC) has started the construction of the first phase of what it plans to be the largest solar project in Southeast Asia, Manila Bulletin reports. Source: Manila Bulletin
