MGen Renewable Energy Inc. (MGreen), a unit of Manila Electric Co. (Meralco), has completed its P15.9-billion investment in SP New Energy Corp. (SPNEC) and has taken a controlling stake in the solar company. Source: Business Mirror
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
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
Publicly-listed SP New Energy Corp. (SPNEC) has acquired projects from its parent company Solar Philippines, marking the company’s start of commercial operations. SPNEC said it signed on May 15 a deed of absolute sale to acquire Solar Philippines shares in Solar Philippines Tarlac Corp. and Solar Philippines Rooftop Corp., which
Metro Pacific Investments Corp. (MPIC) has signed an agreement with Solar Philippines Power Project Holdings Inc. (SPPPHI) and listed SP New Energy Corp. (SPNEC) which will grant MPIC or its affiliates the option to increase its stake in the solar company. According to their respective disclosures, MPIC will have the
SOLAR Philippines Power Project Holdings Inc. is opening up its listed unit SP New Energy Corp. to more strategic partnerships with groups, which could be worth about P2.7 billion in private placements and asset-for-share swaps. The company said in its disclosure that its deal last week with ACEN Corp., the
SOLAR PHILIPPINES Nueva Ecija Corp. (SPNEC) said on Monday that it targets to complete its asset-for-share swap deal with its parent company, Solar Philippines Power Project Holdings, Inc. (SPPHI), by the end of this year, with its stock rights offering (SRO) expected to be completed in September. SPNEC’s offering is
SOLAR Philippines has bagged most of the renewable energy (RE) contracts to develop 2,000-megawatt (MW) capacities under the country’s first Green Energy Auction Program (GEAP). Data from the Department of Energy (DOE) website showed that Solar Philippines won 70 percent of all RE capacity in the DOE auction, or 1380MW
THE board of listed firm Solar Philippines Nueva Ecija Corp. (SPNEC) has approved an asset-for-share swap involving the acquisition of Solar Philippines Power Project Holdings Inc. and 20 other units of the company’s parent firm Solar Philippines Inc. Solar Philippines Inc. assets would be acquired through an asset-for-share swap in
