MPIC could become SPNEC’s biggest owner for P23.75 B
Metro Pacific Investments Corporation (MPIC) has signed definitive agreements for an option to invest up to a total of P23.75 billion for 19 billion shares and becoming the largest shareholder with approximately 42.82 percent of SP New Energy Corporation (SPNEC). In a disclosure to the Philippine Stock Exchange, SPNEC said the option agreement granting MPIC […]
Capitalizing on a sunrise industry
LEANDRO LEVISTE was only 20 years old when he said he started investing in Tesla and Solar City, both US companies that specialized in manufacturing solar panels. He observed that when the stock price of Tesla did well, it illustrated that the market had underestimated the potential for solar energy. Inspired by this, he believed […]
SPNEC changes name to SP New Energy Corp.
Solar Philippines Nueva Ecija Corporation’s change in its corporate name to SP New Energy Corporation (SPNEC) has started to be reflected on the systems of the Philippine Stock Exchange (PSE) on November 8, 2022. In a statement, the firm said this change reflects the company’s expansion from a single project in Nueva Ecija to a […]
Meralco sets bidding to challenge Solar PH
Solar Philippines offered to supply Meralco up to 200 MW of baseload power from its 1,800-MW solar projects and 1,800-MW-hour battery storage plants in Nasugbu, Tuy, and Balayan, Batangas. Solar Philippines intends to supply reliable power in all weather conditions, with a plant designed to produce the contracted energy even during cloudy days. Excess during […]
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
Leandro Leviste’s SPNEC got a big vote of confidence from shareholders, raises P2.8B from fully-subscribed rights offering
Shareholders of Solar Philippines Nueva Ecija Corp. (SPNEC) gave a resounding vote of confidence to techpreneur Leandro Leviste and his massive plans for the power firm. SPNEC raised P2.8 billion from a stock rights offering which has been fully subscribed in both the first and second rounds on strong takeup from its existing investors. […]
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
SPNEC’s P2.8-B SRO fully subscribed
Solar Philippines Nueva Ecija Corporation’s (SPNEC) P2.8 billion stock rights offering has been fully subscribed due to strong demand from its existing shareholders despite the challenging market conditions. In a disclosure to the Philippine Stock Exchange, the firm said the 1.88 billion new common shares were fully subscribed in the first and second round of […]
SPNEC’s SRO key to its 10-GW goal
The P2.8 billion to be raised by Solar Philippines Nueva Ecija Corporation (SPNEC) from its ongoing stock rights offering will be a catalyst for its goal of expanding into a P400-billion renewable energy company with a total capacity of 10 gigawatts (GW). “The SRO’s P2.8 billion proceeds will help complete the P10 billion that […]
