World’s largest solar project on track for 1st phase

The world’s largest solar project breaks ground in the Philippines, SP New Energy Corporation says. Its subsidiary, Tera Solar Philippines, has started clearing 3,500 hectares of land in Nueva Ecija and Bulacan. More than 5 million solar panels worth 200 billion pesos will be installed there.   Source: ANC

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 […]

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 […]