Powerhouse play: MVP-led Meralco to finalize $320 million deal for acquisition of Leviste’s SPNEC

Manila Electric Co. (Meralco) and its subsidiaries have set their sights on finalizing the acquisition of a 50.5 percent stake in SP New Energy Corporation (SPNEC) by the end of this year.

The goal is to complete this process to coincide with the energization of the first 600 MW out of the planned 850 MW, expected sometime in the first quarter of 2026, according to Meralco chairman Manuel V. Pangilinan.