MPIC to invest P22B in SPNEC
Metro Pacific Investments Corp. (MPIC) is looking to invest as much as P21.75 billion into SP Energy Corp. (SPNEC) on top of the P2 billion it invested in the company in March. SPNEC said it signed an option agreement with MPIC and its mother company, Solar Philippines Power Project Holdings Inc., for MPIC to acquire […]
MVP Group joins forces with SPNEC to power the Philippines with renewable energy, seals deal to acquire up to 43% of Leviste-led firm
Bilyonaryo Manny V. Pangilinan-led Metro Pacific Investments Corp. (MPIC) has secured the option to invest P23.75 billion in Solar Philippines Power Project Holdings, Inc. and SP New Energy Corp., a move that will make the infrastructure conglomerate the largest shareholder holding around 42.82 percent of SPNEC. Source: Bilyonaryo
Metro Pacific buying P24b worth of shares to increase stake in SP New Energy to 43%
Metro Pacific Investments Corp. is increasing its stake in renewable company SP New Energy Corp. to 43 percent for P24 billion. SPNEC said in a stock exchange filing Monday its board approved an option agreement that would allow MPIC to acquire another 17.4 billion SPNEC shares including 10 billion primary shares for P12.5 billion and […]
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 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
