SPNEC confirms plans to sell 40% stake in Terra Solar project to foreign investors

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SP New Energy, now a Meralco subsidiary under Manny V. Pangilinan’s chairmanship, confirmed reports that it plans to sell “up to 40% equity stake in the Terra Solar” project.

chairmanship, confirmed reports that it plans to sell “up to 40% equity stake in the Terra Solar” project. The report quoted MVP as saying that SPNEC was in talks with three to five potential investors, and then quoted an unnamed executive who said that SPNEC would take in “at most” two of those potential foreign investors for a combined 40% stake in Terra Solar. MVP said that they were trying to engineer it so that each foreign partner might take a 20% stake.

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