MVP reigns as SPNEC’s new chief
Businessman Manuel V. Pangilinan is taking the lead at the SP New Energy Corp., after his company, MGen Renewable Energy, firmed up its P15.9 billion investment in the solar energy firm founded and established by young entrepreneur Leandro Leviste. Source: Daily Tribune
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. […]
SP New Energy buys out Terra Solar partner for P6B
SP New Energy Corp. (SPNEC) has acquired Prime Infrastructure Inc.’s (Prime Infra) entire stake in a joint venture company, Terra Solar Philippines Inc. (TSPI). Source: Manila Times
MGen financial chief joins SP New Energy
Solar Philippines New Energy Corp. (SPNEC), a subsidiary of Solar Philippines, appointed Meralco PowerGen Corp. (MGen) chief financial officer (CFO) Rochel Donato Garcia as its new treasurer and officer. Source: Manila Bulletin
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
Meralco unit spins P16B into SPNEC
MGreen and SPH have agreed to use SPNEC as the primary vehicle to develop 3500 megawatts of solar and 4000 megawatt-hours of battery storage in Luzon. “This will be one of the largest solar projects not just in Asia, but in the world,” Manuel V. Pangilinan, chairman and CEO of Meralco, previously said. Source: […]
MGreen, SPNEC formalize partnership
Billionaire Manuel Pangilinan’s Manila Electric Co. (Meralco) and businessman Leandro Leviste’s SP New Energy Corp. (SPNEC) officially formalized on Thursday their share subscription deal that will pave the way for a P15.9-billion investment in the latter’s projects. Source: Inquirer
MGreen makes first payment in SPNEC takeover
In a disclosure to the Philippine Stock Exchange on Friday, Dec. 1, SPNEC said the Leviste-led firm has received P7 billion last Nov. 30 from MGen Renewable Energy, Inc. (MGreen) as an initial payment towards its P15.9 billion investment. Source: Manila Bulletin
MGreen forks out initial P7B for SPNEC
MGEN Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), has signed a deal with SP New Energy Corp. (SPNEC) for the purchase of a controlling 50.5-percent stake, forking out an initial P7 billion for the subscription agreement. Source: Manila Times
PSE lifts SPNEC trading suspension
The Philippine Stock Exchange (PSE) has lifted the suspension on the trading of the shares of SP New Energy Corporation (SPNEC) on Friday, Dec. 1, after the firm reported that its public float has been raised to 20.02 percent to meet the minimum public ownership requirement of 20 percent. Source: Manila Bulletin
