SP New Energy Corp., formerly known as Solar Philippines Nueva Ecija Corp., has advanced its flagship PHP 200-billion MTerra Solar Project with the execution of two major engineering, procurement, and construction (EPC) contracts, as disclosed in an SEC Form 17-C filed on October 23, 2025. The contracts pertain to the South Block of the project, which consists of a 1,050 MWp solar power plant integrated with a 1.2 GWh battery energy storage system (BESS) in Central Luzon.
The onshore EPC contract has been awarded to GEDI Construction Development Corp., while the offshore EPC agreement has been executed with China Energy International Group Co. Ltd. in partnership with China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd. According to SPNEC, the EPC agreements include comprehensive provisions for performance warranties, defect correction, and long-term operations and maintenance, ensuring reliability and sustainability throughout the lifecycle of the project.
The MTerra Solar Project is one of the largest renewable energy developments in Southeast Asia, targeting a total capacity of 3,500 MWp of solar power alongside 4,500 MWhr of battery storage, aimed at delivering clean baseload power to support the Philippines’ energy transition. SPNEC, headquartered at Rockwell Business Center in Pasig City, noted that the filing includes forward-looking statements that are subject to market, regulatory, and operational risks, and the actual results may differ materially from current projections.
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