Solar Philippines Nueva Ecija Corp. is acquiring stakes in more than 20 solar power generation projects across the Philippines
in December as the company unveiled expansion plans in recent weeks. The company raised 2.7 billion pesos from its IPO to fund the development of its first solar farm in the Nueva Ecija province, north of Manila. To be built in three phases, the solar farms can produce up to 500 megawatts when fully built.30 Under 30 alumni, will increase its stake in Solar Philippines NEC to 91.7% from 66.8% once the share swap is completed by the middle of the year, the company said.
“We need at least 10 billion pesos to complete the development of 10 gigawatts of solar projects,” Leviste said in a statement recently. “This is only a small percent of project cost, but we believe is a large percent of the value, with development being the bottleneck for the energy transition of the Philippines.”
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