SPNEC to raise P10B via rights offer to fund massive solar projects
Solar Philippines Nueva Ecija Corp. will raise P10 billion by selling more shares a few months after going public to bankroll 10 gigawatts worth of solar energy projects. In a disclosure to the Philippine Stock Exchange, the newly listed energy firm said it would file for stock rights offering in the second quarter of this year. The timing […]
STOCK COMMENTARY I Solar Philippines NEC bags 10-year power supply deal with Angeles Electric Corp
As consumers of electricity with PTSD from blackouts and brownouts due to lack of supply, we should support an “all-of-the-above” approach to adding more capacity to the grid, but as shareholders and investors, there may come a period in the future where these full-throttle plans will come face-to-face with each other and we end up […]
STOCK COMMENTARY | Solar Philippines NEC bares plan to develop 10 GW of solar power capacity
Leandro Leviste’s Solar Philippines NEC [SPNEC 2.02 3.06%] disclosed that it is “firming up” plans to develop 10 gigawatts (GW) of solar projects. SPNEC said that it would be able to achieve this through asset-for-share swaps (yes, plural) with its parent company, Solar Philippines, which has been the holdco for all of Mr. Leviste’s solar projects in […]
Razon-Leviste joint venture seeking Meralco supply deal
Terra Solar, the joint venture of Solar Philippines Power Project Holdings Inc. of the Leviste Group and Prime Infrastructure Holdings Inc. of tycoon Enrique Razon Jr., submitted an unsolicited proposal to supply Manila Electric Co. with 850 megawatts (MW) of mid-merit power for a period of 20 years. Terra Solar has proposed solar power plants […]
Solar Philippines plans asset-for-share swap with SPNEC
Solar Philippines Power Project Holdings Inc. (SP), the parent company of Solar Philippines Nueva Ecija Corp. (SPNEC), is looking to swap its 20 solar projects in the pipeline for three times SPNEC’s current outstanding shares or 24.37 billion shares. Source: Philstar
SPNEC posted net loss of P21M in September 2021
Solar Philippines Nueva Ecija Corp. (SPNEC) recorded a net loss of P21 million for the first quarter of its operations ending in September 2021, it reported in a disclosure. SPNEC said losses were mainly due to fees, taxes and licenses. Source: Inquirer
Foreign funds take interest in SPNEC
Foreign fund managers are placing their bets on newly listed Solar Philippines Nueva Ecija Corp. (SPNEC), reflecting the growing interest among ESG (environmental, social, and governance) investors in renewable energy. SPNEC recently recorded P74.88 million in net foreign buying, according to data from the Philippine stock market. Source: PhilStar
SPNEC tops IPO outturn in 2021
Out of the 10 initial public offerings (IPOs) made on the Philippine Stock Exchange (PSE) in 2021, Solar Philippines Nueva Ecija Corp. (SPNEC) emerged as the top performer of the year with as much as 38 percent increase from its offer price days after its market debut. PhilStar said that the list was compiled by […]
Financial Adviser: 5 Things to Know About Leandro Leviste’s Solar Philippines Nueva Ecija’s IPO and How to Profit from It
Solar Philippines’ subsidiary, Solar Philippines Nueva Ecija Corporation (SPNEC), will be the tenth company and the first-ever purely renewable energy company to go public this year through an initial public offering. SPNEC offers up to Php2.7 billion primary shares at a price of up to P1.00 per share, comprising about 33.2 percent of the company’s […]
Solar Philippines allots 10,000 hectares of solar park for other RE firms
Solar Philippines, through its new venture, Solar Energy Zones Inc. (SEZ), will soon develop 10,000 hectares of land in Luzon as solar parks where other power companies in the country can build solar projects and share common solar facilities. Taking the solar parks in India as inspiration, Solar Philippines intends to further reduce barriers to […]
