SPNEC added to MSCI Philippines index

Listed integrated solar developer SP New Energy Corp. (SPNEC) is poised to be the only company to be added in the MSCI Philippines Small Cap Index for its upcoming rebalancing. The MSCI Global Small Cap Indexes has revealed the changes will take place at the close of market on Feb. 29.   Source: PhilStar

MGreen hikes stake in SPNEC

MGen Renewable Energy Inc. (MGreen), a wholly owned subsidiary of Meralco Powergen Corp., has raised its stake in integrated solar developer SP New Energy Corp. (SPNEC).   Source: PhilStar

MGen completes takeover of SPNEC

MGen Renewable Energy Inc. (MGreen), a subsidiary of Manila Electric Co., has completed its P15.9- billion investment in SP New Energy Corp. (SPNEC).   Source: PhilStar

SPNEC to finish P200 billion solar project by 2027

SP New Energy Corp. (SPNEC) is eyeing to fully complete the world’s largest solar project by 2027. SPNEC said the P200-billion Terra solar development in Nueva Ecija and Bulacan, which will consist of 3,500 megawatts (MW) of solar panels and 4,000 megawatt-hours (MWh) of battery storage, would be completed in two phases.   Source: PhilStar

MVP sees MGreen acquisition of SPNEC completed before yearend

MGen Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), is looking forward to the development of one of the largest solar projects in the world which is expected to cost P200 billion, with the company expecting to complete the acquisition of a controlling stake in SP New Energy Corp. […]

SPNEC starts operations, acquires operating plants

SP New Energy Corp. (SPNEC) has commenced the acquisition of the first batch of operating solar projects from its parent company Solar Philippines (SP). The move consolidates SP’s assets and marks the start of commercial operations of SPNEC.   Source: Philstar

MPIC to acquire up to 43% of SPNEC

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), the tollways and infrastructure conglomerate led by Manuel V. Pangilinan, is acquiring up to 43 percent of SP Energy Corp. (SPNEC) for P24 billion. MPIC, Solar Philippines Power Project Holdings Inc. (SPPPHI) and SPNEC, have signed definitive agreements granting MPIC or its affiliates the option to invest […]

Solar Philippines takes 70% of the DoE’s Green Energy Auction Program capacity

This wasn’t what SPNEC was originally created to do, but it is what SPNEC has been reconfigured to do, and thankfully for investors, SPNEC does it well. Leandro Leviste, the owner of SP and SPNEC, has been consistent since the advent of the new plan to acquire these projects from SP that SPNEC’s main super-power […]

Share swap, capital hike approved by SPNEC shareholders

Shareholders of Solar Philippines Nueva Ecija Corp. (SPNEC) approved yesterday the increase in the company’s authorized capital stock to 50 billion shares from 10 billion shares, as well as the related share swap. SPNEC’s share swap involves the issuance of 24.37 billion shares at P2.50 per share in exchange for shares of Solar Philippines in […]

SPNEC approves asset–for–share swap plan

Solar Philippines Nueva Ecija Corp. (SPNEC), the newly listed solar company, has approved its asset-for-share swap plan, which involves acquiring 100 percent of the outstanding shares of Solar Philippines Power Project Holdings Inc. and its affiliates in over 20 entities. Solar Philippines founder Leandro Leviste said the share swap was structured in a way that […]