SP New Energy Corporation
PPSE:SPNEC1.24
PHP
0.00
(0.00%)
ISIN
PHY8080C1028
CUSIP
Y8080C102
Return %
Stock
S&P 500
1Y
7.83
14.20
3Y
-15.07
81.12
5Y
- -
68.34
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.Company Description
- CEO
- Emmanuel V. Rubio
- Sector
- Industrial services
- Industry
- Engineering & construction
- Address
- Pasig City Philippines
- IPO Date
- Dec 17, 2021
- Website
- spnec.ph
- Similar Companies
- Business
- SP New Energy Corporation is a Philippines-based integrated renewable energy company engaged in the development, financing, construction, operation, and management of utility-scale solar power generation assets and battery energy storage systems. The company operates across key renewable power business segments, offering utility-scale solar photovoltaic power generation for national grid transmission; battery energy storage systems designed for grid reliability, peak-load shaving, and time-shifted renewable dispatch; clean electricity supply and energy distribution under long-term Power Supply Agreements and retail electricity supply contracts for distribution utilities, electric cooperatives, and commercial and industrial off-takers; and end-to-end power project development services, encompassing site identification, land acquisition and conversion, environmental and regulatory permitting, engineering, procurement, and construction management, grid interconnection infrastructure, and plant operations and maintenance. SP New Energy Corporation conducts its business operations across the Philippines, maintaining significant project sites, landholdings, and solar installations throughout the island of Luzon, including the provinces of Nueva Ecija, Bulacan, Tarlac, and Batangas. Founded in 2013 as Solar Philippines Nueva Ecija Corporation and rebranded to SP New Energy Corporation in 2022, the company is headquartered in Pasig City, Metro Manila, Philippines, and operates as a primary subsidiary of MGen Renewable Energy, Inc., the renewable energy development arm of Meralco PowerGen Corporation and Manila Electric Company. In recent major corporate developments, the company completed a strategic ownership transition following a controlling capital injection from MGen Renewable Energy, Inc., consolidating SP New Energy Corporation into the broader Meralco power generation platform. The company acquired full ownership of Terra Solar Philippines, Inc. and subsequently finalized a strategic equity partnership with global infrastructure investment firm Actis, which acquired a 40 percent equity stake in Terra Solar for 600 million US dollars to advance the development of the MTerra Solar project, an integrated facility planned for 3,500 megawatts-peak of solar capacity and 4,500 megawatt-hours of battery energy storage contracted under a 20-year, 850-megawatt power supply agreement with Manila Electric Company. Additionally, the company executed asset-for-share consolidation agreements to acquire operating solar portfolios from Solar Philippines Power Project Holdings, Inc. and filed for corporate restructuring and a corporate name change to MGEN Renewable Energy Holdings, Inc. under the proposed stock ticker MGENR to align with the unified One MGEN group identity.