SPNEC acquires assets from Solar PHL

Publicly-listed SP New Energy Corp. (SPNEC) has acquired projects from its parent company Solar Philippines, marking the company’s start of commercial operations.

SPNEC said it signed on May 15 a deed of absolute sale to acquire Solar Philippines shares in Solar Philippines Tarlac Corp. and Solar Philippines Rooftop Corp., which together own over 100 megawatts of operational solar power plants and another over 50 MW under construction. SPNEC will begin to recognize revenue from these two operational companies starting from May 15, the company said.



Business Mirror