Solar Philippines

30/03/2026

30/03/2026

𝟐𝟓𝟎 𝐌𝐖 𝐒𝐎𝐋𝐀𝐑, 𝟒𝟓𝟎 𝐌𝐖𝐇 𝐁𝐀𝐓𝐓𝐄𝐑𝐘 𝐒𝐓𝐎𝐑𝐀𝐆𝐄 𝐁𝐎𝐎𝐒𝐓 𝐏𝐎𝐖𝐄𝐑 𝐒𝐔𝐏𝐏𝐋𝐘
𝑆𝑇𝑅𝐸𝑁𝐺𝑇𝐻𝐸𝑁 𝐸𝑁𝐸𝑅𝐺𝑌 𝐼𝑁𝐷𝐸𝑃𝐸𝑁𝐷𝐸𝑁𝐶𝐸

The Department of Energy (DOE) welcomed the energization of the first 250 megawatts (MW) of solar capacity and 450 megawatt-hours (MWh) of battery storage by MTerra Solar, marking a critical step toward strengthening the country’s energy security amid continued volatility in global oil markets driven by developments in the Middle East.

“Every megawatt of domestic capacity that we bring into the grid strengthens our ability to withstand external shocks, protect consumers, and preserve system reliability,” said Secretary Garin. “Amid the Middle East conflict, accelerating the development of renewable energy and storage is both a strategic necessity and a national imperative.”

The milestone comes at a time when the Philippines, a net importer of oil, coal, and liquefied natural gas (LNG), continues to face global price shocks that directly impact electricity costs and power system reliability, particularly for generation facilities dependent on imported fuels. The DOE emphasized that expanding clean, renewable, and reliable energy capacity is key to reducing exposure to global price movements in the energy sector and protecting Filipino consumers.

The DOE will continue to fast-track the development and integration of renewable energy and storage projects in close coordination with the National Grid Corporation of the Philippines (NGCP), the Energy Regulatory Commission (ERC), and other power sector stakeholders. As global fuel markets remain uncertain, the Department maintains that a more diversified, resilient, and domestically anchored energy system is indispensable to securing long-term energy stability and safeguarding the Filipino people.

15/03/2026

11/01/2026

From Meralco PowerGen Corporation (MGEN): MGEN did not acquire any share in SPBC, which was awarded a congressional franchise thru Republic Act 11357. Moreover, MGen is not privy to any transactions of SPBC. In addition, SPNEC's business and operations are not dependent on the franchise mentioned.

“We hope this clarifies the issue and lays to rest the disinformation coming out especially in social media,” said Atty. Christer Gaudiano, MGEN Head of Sustainability, Corporate Communications, & External Affairs.

29/10/2025

𝐋𝐞𝐯𝐢𝐬𝐭𝐞 𝐬𝐞𝐥𝐥𝐬 𝐏𝟏𝟑.𝟕𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐒𝐏𝐍𝐄𝐂 𝐬𝐭𝐚𝐤𝐞 𝐭𝐨 𝐌𝐞𝐫𝐚𝐥𝐜𝐨

SP New Energy Corporation (SPNEC) founder Leandro Leviste has sold another 10.83 billion shares in SPNEC to the Manila Electric Company (Meralco) for a total consideration of P13.76 billion, marking the completion of a previously announced sale of his stake in SPNEC.

Leviste sold the shares to Meralco through a block sale on the Philippine Stock Exchange on Monday, October 27. This fulfills the exchangeable note agreements executed between Meralco’s wholly-owned MGen Renewable Energy, Inc. and Leviste’s wholly-owned Solar Philippines Power Project Holdings, Inc. in September 2024 and March 2025, with the transaction now completed with the transfer of shares to Meralco.

This follows Leviste’s earlier sale of 3.77 billion SPNEC shares to Meralco for P4.50 billion, bringing Leviste’s total divestments to Meralco to 14.61 billion shares for over P18.26 billion. As a result, Meralco’s ownership in SPNEC has increased to 28.71 billion shares or 57.33% of SPNEC and Leviste’s ownership has decreased to 9.35 billion shares or 18.66% of the company's common shares.

Leviste was elected Congressman of the 1st District of Batangas in May 2025. In June 2025, Leviste stated that he will be divesting his shares in SPNEC, with total proceeds expected at over P34 billion. Leviste is using the proceeds of his share sales in real estate and equity investments as well as his philanthropic activities.

Meralco has now invested over P34 billion in SPNEC, including P15.90 billion in primary shares to fund the construction of SPNEC’s 3500 MW Terra Solar project in Nueva Ecija, the world’s single largest solar-battery project. In 2024, SPNEC under Meralco’s leadership was able to raise the funding from banks and foreign investors for the P200 billion project, including the largest foreign investment for an infrastructure project in Philippine history.

20/10/2025

Manila Electric Company (Meralco) is planning a re-IPO after all of its assets has been consolidated under SP New Energy Corporation (SPNEC).

“We’re likely to inject our renewable assets into SPNEC and rename it MGreen. We will use SPNEC as a house, a roof (holding company),” said Meralco Chairman, President and CEO Manuel V. Pangilinan in an interview.

He explained that, MGreen subsdidiary “SPNEC is a renewables company. It’s entirely solar. We have some wind projects and solar in Meralco itself, so we just put it under that one house. After we inject our renewable assets into SPNEC, most likely, (we will do a) re-IPO.”

Instead of an initial public offering for its green energy businesses under MGen Renewable Energy Inc. (MGreen), Manila Electric Company (Meralco) is planning a...

09/07/2025

MERALCO POWERGEN CORP. (MGen), through its affiliate Terra Solar Philippines, Inc. (TSPI), said it is on track to complete the first phase of the P200-billion MTerra Solar project by early 2026, with 778 megawatts (MW) of solar photovoltaic (PV) panels already installed on-site.

Spanning 3,500 hectares, the MTerra Solar project straddles five towns across Nueva Ecija and Bulacan. Once completed, the project is expected to deliver 3,500 megawatts peak (MWp) of solar PV capacity, equipped with 4,500 megawatt-hours (MWh) of battery energy storage.

MERALCO POWERGEN CORP. (MGen), through its affiliate Terra Solar Philippines, Inc. (TSPI), said it is on track to complete the first phase of the P200-billion MTerra Solar project by early 2026, with 778 megawatts (MW) of solar photovoltaic (PV) panels already installed on-site. The first phase of w...

08/07/2025

𝐌𝐓𝐞𝐫𝐫𝐚 𝐒𝐨𝐥𝐚𝐫 𝐁𝐞𝐜𝐨𝐦𝐞𝐬 𝐋𝐚𝐫𝐠𝐞𝐬𝐭 𝐒𝐨𝐥𝐚𝐫 𝐏𝐕 𝐈𝐧𝐬𝐭𝐚𝐥𝐥𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐏𝐇

Meralco PowerGen Corporation (MGEN), through its affiliate Terra Solar Philippines Inc. (MTerra Solar), has reached a major milestone in the construction of MTerra Solar, with 778 megawatts (MW) of solar photovoltaic (PV) panels now installed on-site. This significant achievement not only surpasses the project’s target of 750 MW at this stage but also positions MTerra Solar as the largest solar PV installation of its kind in the Philippines to date. Once completed, MTerra Solar is expected to become the world’s largest integrated solar PV and battery energy storage facility.

“MTerra Solar stands as a clear example of how we can shape the country’s energy future through strong partnerships and a shared vision. With 778 MW of solar PV capacity now installed, we are making real progress toward delivering cleaner and more sustainable power for Filipinos. This milestone reflects the hard work of our teams on the ground, the support of our government partners, and the trust of the communities we serve,” said MTerra Solar and MGEN Renewable Energy President and CEO Dennis B. Jordan.

This progress was achieved in just eight months since President Ferdinand “Bongbong” Marcos Jr. led the groundbreaking of MTerra Solar in November 2024, demonstrating the project’s speed and strong momentum.

As of end-June, the overall project progress for Phase 1 stands at 54 percent, reflecting significant strides in construction and development of the integrated PV and BESS plant, including a 500-kiloVolt (kV) transmission line that will connect it to the Nagsaag-San Jose Transmission Line. MTerra Solar has also mobilized more than 9,500 workers at its peak, with over 7.5 million safe manhours recorded – highlighting the scale and complexity of the construction efforts. It plays a key role in supporting the country’s goal of achieving a 35% renewable energy share in the power generation mix by 2030 and 50% by 2040.

05/07/2025

Terra Solar Philippines, a unit of Meralco PowerGen Corp. (MGen), has completed the installation of 750 megawatts (MW) of photovoltaic (PV) capacity at its sprawling solar farm, marking a key milestone in what is set to become the largest solar facility in the world.

The solar farm, which spans 3,500 hectares across the provinces of Nueva Ecija and Bulacan, is part of a P200 billion renewable energy initiative backed by bilyonaryo Manny Pangilinan-led Manila Electric Co. (Meralco).

Terra Solar Philippines, a unit of Meralco PowerGen Corp. (MGen), has completed the installation of 750 megawatts (MW) of photovoltaic (PV) capacity at its sprawling solar farm, marking a key milestone in what is set to become the largest solar facility in the world.

25/06/2025

𝐋𝐞𝐯𝐢𝐬𝐭𝐞 𝐭𝐨 𝐫𝐚𝐢𝐬𝐞 𝐨𝐯𝐞𝐫 𝐏𝟑𝟒𝐛 𝐟𝐫𝐨𝐦 𝐒𝐏𝐍𝐄𝐂 𝐬𝐡𝐚𝐫𝐞𝐬

Congressman-elect Leandro Legarda Leviste has entered into agreements to divest most of his shares in SP New Energy Corporation (SPNEC) before assuming office on June 30, 2025.

Leviste has signed an agreement to sell 5.01 billion SPNEC shares for P6.26 billion to Meralco PowerGen Corporation (MGen), in addition to a previous agreement to sell 5.82 billion shares for P7.50 billion. Under these agreements, MGen has already paid Leviste P13.76 billion, with the transfer of the 10.83 billion shares to follow. MGen has also previously purchased from Leviste 3.77 billion shares for P4.50 billion. Altogether, Leviste’s wholly-owned companies have agreed to sell a total of 14.60 billion shares to MGen for P18.26 billion.

In 2023, Leviste also sold 1.84 billion SPNEC shares to public shareholders for P2.23 billion. In total, Leviste has sold 16.44 billion SPNEC shares for P20.49 billion. After these transactions, Leviste’s wholly-owned Solar Philippines Power Project Holdings, Inc. (Solar Philippines) would still own 8.16 billion shares of SPNEC. Leviste is currently considering options for other private placements and financing on the remaining SPNEC shares of Solar Philippines and affiliates, which would bring the total funding raised from the SPNEC shares of Solar Philippines and affiliates to over P34 billion.

Leviste founded Solar Philippines in 2013 at 20 years old to accelerate the development of solar energy in the Philippines. Solar Philippines completed Luzon’s largest solar farm in Batangas and began developing SPNEC’s Nueva Ecija solar farm in 2016, and began operating its Tarlac solar farm in 2019. In 2021, SPNEC became the first-ever solar company to IPO in the Philippines, and Leviste became the youngest Chairman and CEO in the history of the Philippine Stock Exchange.

Meralco invested P15.90 billion in primary shares of SPNEC in 2023 (together with purchasing P18.26 billion in secondary shares from Leviste, bringing Meralco’s overall investments in SPNEC to also over P34 billion) for the construction of SPNEC’s 3500 MW Terra Solar project in Nueva Ecija, the world’s single largest solar-battery project. In 2024, SPNEC under Meralco’s leadership was able to raise the funding from banks and foreign investors for the P200 billion project, including the largest foreign investment for an infrastructure project in Philippine history.

Leviste decided to focus on public service in 2024 after selling Meralco the controlling stake in SPNEC. Leviste continues to invest the proceeds of these share sales in real estate and equity investments, with the proceeds of these investments funding Leviste’s philanthropic initiatives.

Leviste was elected Congressman of the 1st District of Batangas on May 12, 2025 with 268,764 votes, the most votes in any congressional race in the history of Batangas.