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 various stages of development.

SPNEC admitted that solar projects of this size are only viable for SPNEC if it partners with “the country’s leading power companies”, and that SPNEC plans to complete the formation of these joint ventures with those leading companies before the end of 2022.

 

Source:

Philstar