Meralco signs 850-MW RE supply deal with Terra Solar

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

Revised ownership rule on RE projects

After Solar Philippines Nueva Ecija Corp., which is headed by young entrepreneur Lean Leviste, successfully launched its initial public offering last year that drew billions of pesos in investments, other solar energy companies had taken the same route to fund their operation. The future looks bright for RE projects in the Philippines.   Source: Inquirer

Solar Philippines raises P2.8B via stock rights offering

Leandro Leviste-led Solar Philippines Nueva Ecija Corp. (SPNEC) has raised P2.8 billion from its stock rights offering. SPNEC, in a disclosure on Thursday, said 1.88 billion shares were fully subscribed by public shareholders in the first and second rounds of its rights offer.   Source: Inquirer

Solar PH set to build world’s largest solar baseload project

The Solar Philippines group is building the world’s first large-scale solar-battery baseload project after securing a bidding advantage to supply distribution giant Manila Electric Co. (Meralco) with up to 200 megawatts of 24/7 capacity.   Source: Inquirer

Solar PH seals 6-GW energy supply deals

Solar Philippines is moving closer to its target of sealing 10 gigawatts of renewable energy contracts after clinching the majority of supply deals with the government.   Source: Inquirer

SPNEC okays Solar Philippines share swap deal

Solar Philippines Nueva Ecija Corp. (SPNEC) has approved an asset-for-share swap involving the acquisition of 20 solar projects from its parent firm, Solar Philippines Power Project Holdings Inc., in exchange for 24.37 billion shares of SPNEC at an issue price of P2.50 per share. This share swap is supported by a third-party valuation and fairness […]

Solar PH eyes swap of 20 projects with SPNEC shares

Solar Philippines Power Projects Holdings Inc. is open to swapping its solar portfolio with over 10,000 megawatts of developments for three times the current outstanding shares of Solar Philippines Nueva Ecija Corp. (SPNEC). SPNEC earlier announced that it will do an asset-for-share swap with its parent company, Solar Philippines, to jump-start its future expansion and […]

SPNEC posts earnings report from Q3/21

If there’s any confusion about SPNEC, my feeling is that it has to do more with its IPO as a non-operational company, rather than the fact in itself that the company is non-operational. Maybe that’s natural, since traders/investors here have only really been allowed to invest in IPOs from companies that could demonstrate consecutive years […]

Newbie SPNEC energizes investors stuck in tepid trading

After SPNEC announced the start of its construction work on the first 50 megawatts of its 500MW solar farm in Nueva Ecija, Inquirer reported that investors flocked to SPNEC, making it “the biggest gainer and top traded stock” on Monday, December 27.     Source: Inquirer

SPNEC readies land for solar capacity beyond 500 MW

SOLAR PHILIPPINES Nueva Ecija Corp. (SPNEC) on Wednesday said it is preparing a 1,000-hectare land as it gears up for a joint venture with an unnamed company to expand the capacity of its solar farm beyond 500 megawatts (MW). “We are preparing an initial 1,000 hectares for a joint venture with a partner who can […]