Solar Philippines takes 70% of the DoE’s Green Energy Auction Program capacity

This wasn’t what SPNEC was originally created to do, but it is what SPNEC has been reconfigured to do, and thankfully for investors, SPNEC does it well. Leandro Leviste, the owner of SP and SPNEC, has been consistent since the advent of the new plan to acquire these projects from SP that SPNEC’s main super-power […]

Share swap, capital hike approved by SPNEC shareholders

Shareholders of Solar Philippines Nueva Ecija Corp. (SPNEC) approved yesterday the increase in the company’s authorized capital stock to 50 billion shares from 10 billion shares, as well as the related share swap. SPNEC’s share swap involves the issuance of 24.37 billion shares at P2.50 per share in exchange for shares of Solar Philippines in […]

SPNEC approves asset–for–share swap plan

Solar Philippines Nueva Ecija Corp. (SPNEC), the newly listed solar company, has approved its asset-for-share swap plan, which involves acquiring 100 percent of the outstanding shares of Solar Philippines Power Project Holdings Inc. and its affiliates in over 20 entities. Solar Philippines founder Leandro Leviste said the share swap was structured in a way that […]

SPNEC to raise P10B via rights offer to fund massive solar projects

Solar Philippines Nueva Ecija Corp. will raise P10 billion by selling more shares a few months after going public to bankroll 10 gigawatts worth of solar energy projects. In a disclosure to the Philippine Stock Exchange, the newly listed energy firm said it would file for stock rights offering in the second quarter of this year. The timing […]

STOCK COMMENTARY | Solar Philippines NEC bares plan to develop 10 GW of solar power capacity

Leandro Leviste’s Solar Philippines NEC [SPNEC 2.02 3.06%] disclosed that it is “firming up” plans to develop 10 gigawatts (GW) of solar projects. SPNEC said that it would be able to achieve this through asset-for-share swaps (yes, plural) with its parent company, Solar Philippines, which has been the holdco for all of Mr. Leviste’s solar projects in […]

Razon-Leviste joint venture seeking Meralco supply deal

Terra Solar, the joint venture of Solar Philippines Power Project Holdings Inc. of the Leviste Group and Prime Infrastructure Holdings Inc. of tycoon Enrique Razon Jr., submitted an unsolicited proposal to supply Manila Electric Co. with 850 megawatts (MW) of mid-merit power for a period of 20 years. Terra Solar has proposed solar power plants […]

Solar Philippines plans asset-for-share swap with SPNEC

Solar Philippines Power Project Holdings Inc. (SP), the parent company of Solar Philippines Nueva Ecija Corp. (SPNEC), is looking to swap its 20 solar projects in the pipeline for three times SPNEC’s current outstanding shares or 24.37 billion shares.   Source: Philstar

SPNEC posted net loss of P21M in September 2021

Solar Philippines Nueva Ecija Corp. (SPNEC) recorded a net loss of P21 million for the first quarter of its operations ending in September 2021, it reported in a disclosure. SPNEC said losses were mainly due to fees, taxes and licenses.   Source: Inquirer

Foreign funds take interest in SPNEC

Foreign fund managers are placing their bets on newly listed Solar Philippines Nueva Ecija Corp. (SPNEC), reflecting the growing interest among ESG (environmental, social, and governance) investors in renewable energy. SPNEC recently recorded P74.88 million in net foreign buying, according to data from the Philippine stock market.   Source: PhilStar