MVP set to become SPNEC chair, CEO after MGreen investment
BUSINESSMAN Manuel V. Pangilinan is set to become chairman of SP New Energy Corp. (SPNEC), after MGen Renewable Energy (MGreen) completes its P15.9-billion investment in the solar energy firm founded by Leandro Leviste. In a disclosure to the Philippine Stock Exchange, SPNEC said MGreen made its balance payment of P8.9 billion to complete the acquisition. […]
Leandro Leviste’s SPNEC gains momentum with P7 billion initial payment from Meralco’s renewable arm
SP New Energy Corp. of techpreneur Leandro Leviste has received an initial payment of P7 billion from the renewable energy development arm of power utility giant Manila Electric Co. (Meralco) for the acquisition of a majority stake in SPNEC. Source: Bilyonaryo
Turning the tide: Leandro Leviste’s SPNEC swings into the black with P24.7 million profit
SP New Energy Corporation, led by techpreneur Leandro Leviste, marked a notable financial turnaround, reporting a net income of P24.69 million in the nine months to September this year, compared to a net loss of P49.68 million during the same period in 2022. Source: Bilyonaryo
Powerhouse play: MVP-led Meralco to finalize $320 million deal for acquisition of Leviste’s SPNEC
Manila Electric Co. (Meralco) and its subsidiaries have set their sights on finalizing the acquisition of a 50.5 percent stake in SP New Energy Corporation (SPNEC) by the end of this year. The goal is to complete this process to coincide with the energization of the first 600 MW out of the planned 850 MW, […]
Leandro Leviste’s SPNEC secures over 4,000 hectares for renewable energy projects
Bilyonaryo Leandro Leviste’s SP New Energy Corporation (SPNEC) and its subsidiaries have secured over 4,000 hectares, mostly in the provinces of Nueva Ecija, Bulacan, Tarlac, and Batangas through acqusition and lease agreements. SPNEC disclosed that of the over 4,000 hectares, over 3000 hectares were secured through deeds of sale or contracts to sell, and over […]
SPNEC’s ambitious growth strategy begins with acquisition of Solar Philippines assets
SP New Energy Corporation (SPNEC) of techpreneur Leandro Leviste has taken a significant step towards establishing itself as a major player in the commercial energy sector with the acquisition of an initial portfolio of projects from Solar Philippines (SP), its parent company. Source: Bilyonaryo
MVP Group joins forces with SPNEC to power the Philippines with renewable energy, seals deal to acquire up to 43% of Leviste-led firm
Bilyonaryo Manny V. Pangilinan-led Metro Pacific Investments Corp. (MPIC) has secured the option to invest P23.75 billion in Solar Philippines Power Project Holdings, Inc. and SP New Energy Corp., a move that will make the infrastructure conglomerate the largest shareholder holding around 42.82 percent of SPNEC. Source: Bilyonaryo
Leandro Leviste’s SPNEC got a big vote of confidence from shareholders, raises P2.8B from fully-subscribed rights offering
Shareholders of Solar Philippines Nueva Ecija Corp. (SPNEC) gave a resounding vote of confidence to techpreneur Leandro Leviste and his massive plans for the power firm. SPNEC raised P2.8 billion from a stock rights offering which has been fully subscribed in both the first and second rounds on strong takeup from its existing investors. […]
SPNEC gets shareholders nod for P61B share swap, increase in authorized capital
Stockholders of Leandro Leviste’s Solar Philippines Nueva Ecija Corp. (SPNEC) approved on Monday the increase in the company’s authorized capital stock as well as the P60.9 billion share swap deal with parent. SPNEC is raising its capitalization to 50 billion shares from 10 billion shares to facilitate the issuance of shares to Solar Philippines. […]
Leandro Leviste needs P10B to meet his green energy targets, mulls private placement of SPNEC shares
Solar Philippines Nueva Ecija Corp. (SPNEC) is tapping the capital market anew to fast-track the development of 10 GW of solar power projects. In a statement, SPNEC said it was looking to conduct a stock rights offering in the second quarter and a private placement of shares with institutional investors to complete the capital required […]
