Tycoon Manuel V. Pangilinan is stepping down as President and CEO of SP New Energy Corporation in favor of Emmanuel V. Rubio, who the MVP Group has recently hired to lead Meralco PowerGen Corporation (MGen) after his retirement as the chief executive of Aboitiz Power Corporation. In a...
SP New Energy Corporation (SPNEC), a member of the Meralco Group of companies, has turned profitable in the first quarter of 2024 with a net income of P156 million and an attributable net income of P47.5 million from a loss of P24.57 million in the same period last year. Based on its disclosure to...
Pangilinan-led SP New Energy Corp (SPNEC) is targeting to conclude sell-down of up to 40% of its shareholdings to foreign firms that will be willing to infuse capital into its 3,500-megawatt Terra Solar power project to be integrated with 4,500-megawatt hours (MWh) of energy storage system....
Renewable energy firm SP New Energy Corp. (SPNEC), now chaired by tycoon Manuel V. Pangilinan through the controlling stake of MGen Renewable Energy (MGreen), reported a net income of P5.7 billion in 2023 after gaining 100 percent ownership of Terra Solar Philippines. Based on its disclosure...
Countryside Investments Holdings Corporation (Countryside), a company wholly owned by Leandro Leviste, is investing over P5 billion to help propel the development of rural Batangas. In a statement, Leviste said this will be done in partnership with his renewable energy firm Solar Philippines Power...
Integrated solar developer SP New Energy Corp. (SPNEC), now a member of the Meralco Group, has replaced MREIT Inc. in the exclusive and coveted MSCI Philippines Small Cap Index. Source: MSCI, First Metro Securities The addition of SPNEC and deletion of MREIT are the only changes in the closely...
MGen Renewable Energy Inc. (MGreen), a unit of Manila Electric Company (Meralco), has bought an additional 2.17 billion shares in SP New Energy Corporation (SPNEC) from Solar Philippines Power Project Holdings Inc. for P2.5 billion. In a disclosure to the Philippine Stock Exchange (PSE), SPNEC said...
MGen Renewable Energy Inc. (MGreen), a subsidiary of Manila Electric Company (Meralco), has completed its P15.9 billion acquisition of a controlling stake in SP New Energy Corporation (SPNEC). This comes after the Securities and Exchange Commission (SEC) approved the amendment to SPNEC’s articles...
SP New Energy Corp. (SPNEC) has commenced the construction preparations for Terra Solar Philippines, Inc.'s solar project in Nueva Ecija and Bulacan. In a statement on Monday, Jan. 1, SPNEC said it began clearing the site for the 3,500-hectare solar project, which will be owned by its subsidiary...
Tycoon Manuel V. Pangilinan has assumed the leadership of SP New Energy Corp. (SPNEC) following the completion of Manila Electric Co.'s (Meralco) investment in the renewable energy firm. In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, Dec. 27, SPNEC has announced that MGen...
Tycoon Manuel V. Pangilinan has taken over the helm of SP New Energy Corporation (SPNEC) after Manila Electric Company (Meralco), through MGen Renewable Energy (MGreen), completed its acquisition of a controlling stake in the solar energy firm for P15.9 billion. In a disclosure to the Philippine...
SP New Energy Corp. (SPNEC) has acquired all of the shares of Prime Infrastructure Inc. (Prime Infra) in their joint venture firm Terra Solar Philippines Inc. (TSPI) for P6 billion to build the world’s largest solar project at a cost of about P200 billion. In a disclosure to the Philippine Stock...
