MVP takes over at SP New Energy

SPNEC, founded by businessman Leandro Leviste, said in a disclosure on Wednesday that MGreen had “given the balance payment of P8.89 billion on December 27, 2023” to complete the acquisition. Source: Manila Times

MGreen forks out initial P7B for SPNEC

MGEN Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), has signed a deal with SP New Energy Corp. (SPNEC) for the purchase of a controlling 50.5-percent stake, forking out an initial P7 billion for the subscription agreement.   Source: Manila Times

SPNEC bares plan to raise public float

SOLAR power provider SP New Energy Corp. (SPNEC) on Thursday disclosed a minimum public ownership (MPO) compliance plan as part of efforts to lift a trading suspension.   Source: Manila Times

SP New Energy reverses net loss

SP New Energy Corp., a subsidiary of Solar Philippines, on Thursday reported a nine-month net income of P24.69 million, a turnaround from the P40.45-million loss recorded a year earlier.   Source: Manila Times

PSE okays SPNEC stock offering

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 […]

Solar firm to supply Angeles Electric

Solar Philippines Nueva Ecija Corp. (SPNEC) has signed a power supply agreement (PSA) with Angeles Electric Corp. (AEC), the third-largest distribution utility in Luzon, to be sourced from SPNEC’s Nueva Ecija solar farm. Based on the terms published on the Department of Energy (DoE) website, SPNEC will supply AEC approximately 97.8-megawatt hours per day from […]

Solar plant to rise in Nueva Ecija

SOLAR Philippines Nueva Ecija Corp. (SPNEC) is pushing through with its plan to build a solar power facility in Nueva Ecija using part of the proceeds from its initial public offering (IPO).  The company’s P2.7-billion IPO will commence following the green light from the Philippine Stock Exchange (PSE) and Securities and Exchange Commission (SEC).  SPNEC […]

PH to build largest solar farm in Nueva Ecija

Through its subsidiary Solar Philippines Nueva Ecija Corp., the company plans to build the first phase of the project which is expected to produce 225 MW. It will be followed by the 500-MW solar project in the municipality of Peñaranda. The project will be the biggest in the Philippines and Southeast Asia. The solar project’s […]