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...
Project sponsor-firm MGen Renewable Energy Inc. (MGreen), which is a subsidiary of Meralco PowerGen, has cemented a deal with affiliate Meralco Industrial Engineering Services Corporation (MIESCOR) for some construction components in the conglomerate’s $4.0 billion Terra Solar project. In a...
While not exactly turning its back on fossil fuel-based conventional technologies, Alcantara-led Alsons Power Group will be pursuing wider diversification on its power generation portfolio by focusing its next investment on utility scale solar farm installation that will have energy storage...
Danish firm Copenhagen Infrastructure Partners (CIP) is eyeing to diversify its capital formation for renewable energy (RE) projects in the country, with its investment sight now expanding into solar and energy storage systems. The Danish firm first entered the Philippine market last year with its...
BRAULIO DUJALI, Davao del Norte – The month of September is known as harvest season in most of the rice-producing towns across the country. FARMERS prepare to dry palay in the solar bubble dryer. (Keith Bacongco) But as farmers are delighted to see the results of their three-month hard...
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...
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...
Singapore-headquartered investment fund Clime Capital will be injecting up to $10 million for the solar rooftop installations in the commercial and industrial (C&I) space as well utility-scale ventures to be undertaken by Upgrade Energy Philippines (UGEP), a joint venture between Aboitiz Power...
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...
State-run Philippine National Oil Company (PNOC) will reinforce its initiative for solar rooftop installations at the buildings of the National Economic and Development Authority (NEDA) in Region IV-A areas. The planned deployment of solar photovoltaics (PVs) in the NEDA facilities was cemented...
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...
