Meralco PowerGen Clarifies SPNEC Investment, Highlights Renewable Energy Focus

Meralco PowerGen Corporation (MGEN) has clarified that SP New Energy Corporation (SPNEC) is a separate and distinct entity from Solar Para Sa Bayan Corporation (SPBC), amid circulating social media claims.

MGEN emphasized that it did not acquire any shares in SPBC, which holds a congressional franchise under Republic Act 11357 to construct, install, and operate microgrids in remote areas. The company also stated that it is not involved in SPBC’s transactions nor in matters related to SPBC’s compliance with its franchise.

The company confirmed that its investment in SPNEC fully complies with all applicable laws and regulations. As a publicly-listed corporation, SPNEC’s transactions, including MGEN’s entry through its affiliates, have been scrutinized and approved by the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC).

MGEN further noted that SPNEC’s operations are independent of SPBC’s franchise, underscoring that there is no connection between the two companies’ businesses.

“We hope this clarifies the issue and lays to rest the disinformation circulating on social media,” said Atty. Christer Gaudiano, MGEN Head for Sustainability, Corporate Communications, & External Affairs.