SPNEC to acquire Solar Philippines’ assets by yearend
Solar Philippines Nueva Ecija Corporation (SPNEC) aims to complete its acquisition of the assets of parent company Solar Philippines worth about P60 billion by the end of this year. In a disclosure to the Philippine Stock Exchange, the firm said that the conclusion of its P3.3 billion Stock Rights Offering (SRO) in the coming […]
SPNEC board OKs change in name
Solar Philippines Nueva Ecija Corp. said Tuesday its board of directors approved a change in its corporate name to SP New Energy Corp. to reflect the expanded business. SPNEC said in a disclosure to the stock exchange the change in the corporate name “reflects the company’s expansion from a single project in Nueva Ecija to […]
SPNEC rebrands corporate name amid massive expansion
Solar Philippines Nueva Ecija Corporation (SPNEC), a unit of Solar Philippines, is changing its corporate name to SP New Energy Corporation — reflecting its massive expansion. “We see these corporate actions as being about more than just our company, but the energy mix of our country. We are thankful to our shareholders for supporting SPNEC […]
SPNEC to be renamed to SP New Energy Corporation
To integrate expanded renewable energy (RE) ventures into its corporate structure, Leviste-led Solar Philippines Nueva Ecija Corporation (SPNEC) is seeking green light from its board of directors, to have the company renamed to SP New Energy Corporation. The new corporate name is still subject to approval by the company’s stockholders and government regulatory authorities. […]
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 offers 200MW capacity to Meralco
Leviste-led Solar Philippines Batangas Baseload Corporation (SPBBC) offered power utility giant Manila Electric Company (Meralco) 200 megawatt (MW) baseload capacity or round-the-clock electricity supply for 20 years. The SPBBC offer was granted an “original proponent status” and will be subjected to a “challenge” in a competitive selection process (CSP) to be spearheaded by the third […]
PSE okays SPNEC stock offering
In its notice of approval dated July 28, 2022, the PSE also approved the proposed SRO timetable, with an offer period from Aug. 30 to Sept. 5, 2022. The company is looking to raise around P2.8 billion to P3.3 billion from the offer which will then be allocated toward project developments (including securing land and […]
SPNEC gets greenlight for SRO
Solar Philippines Nueva Ecija Corporation (SPNEC) has been given the go signal to conduct its Php3.3 billion stock rights offering (SRO). Proceeds from the offering will be used for project development which includes securing land of off-take agreements as part of SPNEC’s goal to develop 10 gigawatts (GW) of solar projects by 2025. Source: Power […]
SPNEC adjusts price range of stock rights offering
SOLAR Philippines Nueva Ecija Corp. (SPNEC) has adjusted the price range of its stock rights offering to P1.50 to P1.75 per share, saying it was doing so “in the interest of the success” of the fundraising. In its disclosure on Tuesday, the company also highlighted the option to pay in installments, with a downpayment of […]
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
