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 […]
SPNEC secures over 4,000 hectares of land in Luzon
SP New Energy Corp. said Wednesday that together with its subsidiaries, it secured more than 4,000 hectares of land, mostly in the provinces of Nueva Ecija, Bulacan, Tarlac and Batangas. SPNEC said in a disclosure to the Philippine Stock Exchange that it secured over 3,000 through deeds of sale or contracts to sell and another […]
Leviste’s RE firm grows land assets
SP New Energy Corp., along with its subsidiaries, has secured more than 4,000 hectares of land in Nueva Ecija, Bulacan, Tarlac and Batangas provinces. These lands will be utilized for the development of the company’s large-scale renewable energy projects. In a stock report on Wednesday, SPNEC said over 3,000 hectares of the assets were secured […]
SPNEC to start building world’s largest solar farm this year
SP New Energy Corporation (SPNEC), the country’s emerging solar power giant, is planning to break ground this year its massive 3,000 megawatt Nueva Ecija solar expansion project. During the firm’s Annual Stockholders’ Meeting, Solar Philippines Founder Leandro Leviste said this is the project to which the company has invested the bulk of the proceeds of […]
SPNEC to break ground on Nueva Ecija solar project
SP New Energy Corp. (SPNEC) on Thursday said it plans to break ground this year on its Nueva Ecija solar expansion project, which will be controlled by the company. The company has invested the bulk of the proceeds of its capital raises in this project, including Metro Pacific Investment Corp.’s initial investment of P2 billion. […]
