SPNEC Successfully Acquires Various Solar Projects From Solar Philippines Power Holdings

Solar Philippines National Expansion Corporation (SPNEC) has announced its successful acquisition of 100% of the shares of Solar Philippines Power Holdings, Inc. (SPPPHI) in various entities.

SPNEC has finalized the acquisition of Solar Philippines Tarlac Corporation and Solar Philippines Rooftop Corporation through the signing of a deed of absolute sale. These two entities collectively possess operational solar power plants with a capacity exceeding 100 MW, as well as an additional 50 MW currently in the construction phase.

The shares acquired by SPNEC pertain to the following entities:

1. Solar Philippines Calatagan Corporation
2. Solar Philippines Tarlac Corporation
3. Terra Solar Philippines, Inc.
4. Solar Philippines Batangas Baseload Corporation
5. Solar Philippines Tarlac Baseload Corporation
6. Solar Philippines Central Luzon Corporation
7. Solar Philippines South Luzon Corporation
8. Solar Philippines Southern Tagalog Corporation
9. Solar Philippines Eastern Corporation
10. Solar Philippines Western Corporation
11. Solar Philippines Visayas Corporation
12. Solar Philippines Central Visayas Corporation
13. Solar Philippines Southern Mindanao Corporation
14. Solar Philippines Batangas Corporation
15. Solar Philippines Retail Electricity, Inc.
16. Laguna Solar Rooftop Corporation
17. Solar Philippines Rooftop Corporation

Metro Pacific Investments Corp. (MPIC), SP, and SPNEC have entered into an agreement that provides MPIC or its affiliates with the opportunity to invest P23.75 billion in nearly 43% of SPNEC.

Following the consolidation of SP’s assets, SPNEC will possess projects with an operational or under-construction capacity of nearly 1 GW, as well as an extensive pipeline of over 8 GW, making it the country’s leader in contracted capacity for renewable energy projects.