SPNEC moves to comply with minimum public float
SOLAR PHILIPPINES Power Project Holdings, Inc. (SPPPHI) has donated additional shares of its listed subsidiary to Asia Pacific Institute for Green Development, Inc. (Green Development) to comply with the stock exchange’s minimum public ownership (MPO) requirement. Source: Business World
SP New Energy reverses net loss
SP New Energy Corp., a subsidiary of Solar Philippines, on Thursday reported a nine-month net income of P24.69 million, a turnaround from the P40.45-million loss recorded a year earlier. Source: Manila Times
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
MVP sees MGreen acquisition of SPNEC completed before yearend
MGen Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), is looking forward to the development of one of the largest solar projects in the world which is expected to cost P200 billion, with the company expecting to complete the acquisition of a controlling stake in SP New Energy Corp. […]
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, […]
BESS project to cost P200B
SP New Energy Corp.’s (SPNEC) solar power projects and battery energy storage system (BESS) will involve an investment cost of P200 billion, according to the Manila Electric Co. (Meralco). Source: Malaya
Meralco unit to invest P16B in SPNEC
Manila Electric Co. (Meralco) subsidiary MGen Renewable Energy Inc. (MGreen) will invest P15.9 billion in SP New Energy Corp. (SPNEC) by subscribing to 15.7 billion common shares and 19.4 billion redeemable preferred voting shares . Upon closing, Meralco will own 31.4 percent of SPNEC’s common shares based on the latter’s 34.37 billion existing common shares […]
MERALCO to invest in Leviste-led SPNEC
MGen Renewable Energy, Inc. (MGreen), a subsidiary of Meralco Powergen Corporation (MGen), is allocating Php 15.9 billion for an investment in SP New Energy Corporation (SPNEC). This substantial investment contains a subscription of 15.7 billion common shares and 19.4 billion redeemable preferred voting shares within SPNEC. Source: Power Philippines
Meralco’s P15.9-B investment in SPNEC to advance solar-energy storage projects
The MGreen-SPNEC development plan for 3,500 megawatts of solar and 4,000-megawatt hours of energy storage is seen as the biggest ‘clean energy installation’ not just in Asia, but even in the world. Source: Manila Bulletin
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 […]
