Leandro Leviste kicks off construction of ‘Southeast Asia’s largest solar plant’

Construction has started on the first phase of what is envisioned to be the largest solar project in Southeast Asia.

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Fresh from the success of its initial public offering, businessman Leandro Leviste’s Solar Philippines Nueva Ecija Corp. (SPNEC) has kickstarted the construction of the first 50 megawatts of a planned 500 MW solar facility in Penaranda, Nueva Ecija.

The first 50 MW is targeted to begin delivering power to the grid by the end of 2022, allowing SPNEC to post a net profit.

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SPNEC plans to install solar panels for the next 175 MW over half a year and be ready to install solar panels for the rest of the 500 MW over a year.

The project is expected to create over 5000 jobs during construction and over 500 jobs during operations.

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SPNEC will use the other proceeds from the IPO to develop a 1000-hectare expansion in partnership with the country’s leading companies as part of its strategy to accelerate its transition to renewable energy.

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