SP New Energy Corporation (SPNEC), a prominent player in the solar power industry, is set to commence construction on its ambitious Nueva Ecija solar expansion project, which aims to generate a massive 3,000 megawatts of power. The project, financed through capital raising activities including a stock rights offering and an investment from Metro Pacific Investments Corporation, will make SPNEC one of the world’s largest solar power plant operators. Commercial operations are scheduled to begin in 2026.
Solar Philippines Founder Leandro Leviste emphasized the company’s commitment to projects where it holds a controlling stake, indicating ongoing discussions regarding shareholding arrangements. The expanded Nueva Ecija project covers over 3,000 hectares of land adjacent to the company’s existing solar farm, bringing their total secured land in the area to over 3,500 hectares. The proximity of these projects also facilitates transmission development, with plans for a 60-kilometre extension to connect to the National Grid Corporation of the Philippines’ substations serving the Greater Manila Area.
With a comprehensive plan to develop 4 gigawatts (GW) of solar farms, SPNEC’s collective projects in the Nueva Ecija region will exceed the capacity of India’s Bhadla Solar Farm (currently the world’s largest at over 2.2 GW) and surpass the total grid-connected solar capacity in the Philippines as of 2022 (over 1.4 GW). The company’s strategic land consolidation and long-term planning have paved the way for this ambitious expansion in solar energy production.