LEANDRO LEVISTE was only 20 years old when he said he started investing in Tesla and Solar City, both US companies that specialized in manufacturing solar panels. He observed that when the stock price of Tesla did well, it illustrated that the market had underestimated the potential for solar energy. Inspired by this, he believed that he could bring this energy solution to the Philippines, where the electricity rates were among the highest. In 2013, he invested his savings to

Solar Philippines Nueva Ecija Corporation’s change in its corporate name to SP New Energy Corporation (SPNEC) has started to be reflected on the systems of the Philippine Stock Exchange (PSE) on November 8, 2022. In a statement, the firm said this change reflects the company’s expansion from a single project in Nueva Ecija to a portfolio of projects—in support of its goal of completing the development of 10 GW by 2025.   Source: Manila Bulletin

Solar Philippines offered to supply Meralco up to 200 MW of baseload power from its 1,800-MW solar projects and 1,800-MW-hour battery storage plants in Nasugbu, Tuy, and Balayan, Batangas. Solar Philippines intends to supply reliable power in all weather conditions, with a plant designed to produce the contracted energy even during cloudy days. Excess during sunny days can be sold into the wholesale electricity spot market.   Source: Manila Standard

Manila Electric Co (Meralco) signed a 20-year Power Supply Agreement (PSA) with Terra Solar Philippines for the supply of 850 megawatts (MW) of renewable energy to cover the power distributor’s mid-merit requirement starting in 2026.   Source: Inquirer