MGen Renewable Energy Inc. (MGreen), through its subsidiary unit SP New Energy Corp. (SPNEC), announced that Singapore-based Actis Rubyred Pte. Ltd. has closed its investment stake in Terra Solar Philippines Inc.In a statement on Monday, March 17, Meralco PowerGen Corp. (MGen) reported that Actis’...
SP New Energy Corporation (SPNEC), a solar power producer controlled by Manila Electric Company (Meralco) through Meralco Power Gen Corporation (MGen), looking at developing another massive solar farm in Southern Luzon.In an interview, Meralco Chairman Manuel V. Pangilinan said SPNEC is putting up...
Terra Solar Philippines Inc. (MTerra Solar), a unit of SP New Energy Corporation (SPNEC), announced it has secured a ₱150 billion omnibus loan and security agreement (OLSA) with six local banks.In a disclosure to the Philippine Stock Exchange on Friday, Feb. 28, MTerra Solar said the 15-year OLSA...
Thousands of fisherfolk in Limay, Bataan whose livelihoods were displaced by the massive oil spill last year can expect to receive compensation soon.In his speech before provincial leaders and residents of Bataan, reelectionist Senator Francis 'TOL' Tolentino shared that the indemnification for...
Terra Solar Philippines, a subsidiary of SP New Energy Corp. (SPNEC), has commenced construction on the world's largest solar and battery power facility in the Philippines, following a successful contract with a Chinese energy firm.The groundbreaking ceremony, held on Thursday, Nov. 21, marked the...
Terra Solar Philippines, Inc., a unit of SP New Energy Corp. (SPNEC), announced that it had granted an Engineering, Procurement, and Construction (EPC) deal with China Energy Engineering Group Co., Ltd. (Energy China) for the world’s largest contiguous solar and battery power plant in the...
The renewable energy arm of the Manila Electric Company (Meralco) said that its TerraSolar project, a joint venture with Terra Solar Philippines, Inc., is moving ahead faster than expected.In a briefing, Emmanuel Rubio, Meralco PowerGen Corporation (MGen) president and chief executive officer,...
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 of...
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...
All questions surrounding the sunken and capsized vessels that caused massive oil spill in Bataan and nearby cities will be investigated, President Marcos said.President Ferdinand 'Bongbong' Marcos Jr. leads the distribution of assistance to fishermen affected by the oil spill in Navotas on Sept....
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...
