MGreen and SPH have agreed to use SPNEC as the primary vehicle to develop 3500 megawatts of solar and 4000 megawatt-hours of battery storage in Luzon. “This will be one of the largest solar projects not just in Asia, but in the world,” Manuel V. Pangilinan, chairman and CEO of Meralco, previously said.    Source: […]

Billionaire Manuel Pangilinan’s Manila Electric Co. (Meralco) and businessman Leandro Leviste’s SP New Energy Corp. (SPNEC) officially formalized on Thursday their share subscription deal that will pave the way for a P15.9-billion investment in the latter’s projects.   Source: Inquirer

In a disclosure to the Philippine Stock Exchange on Friday, Dec. 1, SPNEC said the Leviste-led firm has received P7 billion last Nov. 30 from MGen Renewable Energy, Inc. (MGreen) as an initial payment towards its P15.9 billion investment.   Source: Manila Bulletin

MGEN Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), has signed a deal with SP New Energy Corp. (SPNEC) for the purchase of a controlling 50.5-percent stake, forking out an initial P7 billion for the subscription agreement.   Source: Manila Times

The Philippine Stock Exchange (PSE) has lifted the suspension on the trading of the shares of SP New Energy Corporation (SPNEC) on Friday, Dec. 1, after the firm reported that its public float has been raised to 20.02 percent to meet the minimum public ownership requirement of 20 percent.   Source: Manila Bulletin

Meralco unit MGen Renewable Energy and SP New Energy Corporation enter into an agreement. This for the subscription by Amgen of 15.7 trillion common shares and over 19 trillion preferred shares of SPNEC. Leandro Leviste’s firm has already received an initial payment from the Meralco subsidiary.   Source: ANC