Leandro Leviste’s SPNEC secures over 4,000 hectares for renewable energy projects

Bilyonaryo Leandro Leviste’s SP New Energy Corporation (SPNEC) and its subsidiaries have secured over 4,000 hectares, mostly in the provinces of Nueva Ecija, Bulacan, Tarlac, and Batangas through acqusition and lease agreements.

SPNEC disclosed that of the over 4,000 hectares, over 3000 hectares were secured through deeds of sale or contracts to sell, and over 1,000 hectares through contracts to lease.

According to the company, over 2,000 hectares have already been approved for conversion to industrial use.

“We thank all who have helped us grow SPNEC’s assets, from its initial 352 hectares, to over 4000 hectares, and from a single project, to a portfolio of projects operating, under construction, and under development. It is time for us to build upon what we have so far, and work on turning these hectares into megawatts,” Solar Philippines founder Leandro Leviste said.

SPNEC said it has been growing its assets as part of the consolidation of projects of Solar Philippines Power Project Holdings, Inc. (SP).

On May 15 2023, SPNEC entered into a contract to acquire the shares of SP in various entities using the proceeds of SP’s subscription of 24.37 billion shares of SPNEC.

SPNEC’s assets now include over 400 megawatts (MW) of projects operating or under construction and over 4000 hectares.

SP is also transferring to SPNEC contracts and permits to support its projects, some of which it has been developing since 2016.

SP is preparing various share sales to support these developments and increase its public float.