SP New Energy Corporation (SPNEC), a subsidiary of the Meralco Group, is shelling out P8.93 billion for the acquisition of additional stake in Terra Solar Philippines Inc. and Terra Nueva Inc. In a regulatory filing on Thursday, Oct. 10, SPNEC said its board of directors approved the subscription...
The joint venture of Copenhagen Energy (CE) and PetroGreen Energy Corporation as developer of the frontrunner 2.0-gigawatt (2,000 megawatts) Buhawind offshore wind farm project in Ilocos Norte is now seeing the finish line clearer for 2028, following government declarations of resolving hurdles on...
Young billionaire and Solar Philippines Founder Leandro Leviste is investing over P15 billion to create jobs in Batangas and other provinces through his Provincia Investments Corporation (PIC). In an announcement posted on Solar Philippines’ Facebook page, Leviste said this new budget is in...
Tycoon Manuel V. Pangilinan, who is also the chairman of PXP Energy Corporation, has an extraordinary wish for this year’s holiday season – a “Chinese Santa Claus” who will finally give a strife-free nod to petroleum exploration in the turbulent waters of West Philippine Sea,...
Following the Department of Energy’s (DOE) rejection of its force majeure plea, Pangilinan-led SP New Energy Corporation (SPNEC) is now looking for an alternative site for the development of the 280-megawatt Nueva Ecija solar farm project it won under the first round of the green energy auction...
Several Chinese companies have been shortlisted by SP New Energy Corporation (SPNEC) of the Manila Electric Company (Meralco) Group for soon-to-be awarded contracts on the supply of photovoltaic (PV) modules and energy storage systems (ESS) for the $4.0 billion Terra solar project, an expansive...
London-headquartered private equity firm Actis is injecting colossal investment of $600 million (approximately P34 billion) for its 40 percent equity acquisition in the $4 billion Terra Solar project being advanced to commercial fruition by SP New Energy Corporation (SPNEC) of the Manila Electric...
Pangilinan-led Manila Electric Company is gaining a firmer control over SP New Energy Corporation (SPNEC) by raising its interest to 50.5 percent with the acquisition of an additional stake worth P7.5 billion from its founder Leandro Leviste. Meralco PowerGen Corporation (MGen) is buying another...
Pangilinan-led PXP Energy Corporation has cemented tie-up with Australian and British firms for the bids it submitted for two petroleum blocks auctioned in the Sulu Sea basin by the Department of Energy (DOE) and the Ministry of Environment, Natural Resources and Energy (MENRE) of the Bangsamoro...
Giant lender BDO Unibank Inc. has extended P5.6 billion project funding to the 197-megawatt Tuy solar project of Saavedra-led Citicore Renewable Energy Corporation (CREC), a Filipino firm that is calculatedly cementing its stature to become the biggest solar farm developer in the country with its...
The mammoth Terra Solar project of SP New Energy Corporation (SPNEC) of the Manila Electric Company (Meralco) group which will command aggregate investment of P190 billion has secured ‘green lane certification’ from the Board of Investments (BOI) that will enable it to avail of fast-tracked and...
With its cash stream boosted by the entry of new capacities from its solar plants, the net income of listed firm Citicore Renewable Energy Corp (CREC) climbed 9.0% to P910 million in 2023 versus P834 million in the prior year. The company’s earnings before interest, taxes, depreciation and...
