MPIC has agreed to purchase a 42.82% stake in SPNEC, the listed unit of Manila-based PV module producer and mission developer Photo voltaic Philippines Energy Venture Holdings (SPH), for PHP 24 billion.
SPNEC has been listed on the Philippine Inventory Change since December 2021. MPIC agreed to purchase 19 billion shares within the transaction.
“SPNEC and SPH are within the means of finishing an asset-for-share swap the place SPH’s pipeline of over 8 GW of tasks might be merged underneath SPNEC,” MPIC stated in late March, when it launched the operation. “SPNEC creates worth by photo voltaic mission growth. MPIC contributes capital and funding experience to companion with administration groups and key stakeholders to construct worthwhile rising infrastructure leaders.
SPNEC was initially a photo voltaic module producer however has grow to be a serious PV mission developer lately. It has constructed photo voltaic parks in lots of places all through the Philippines.
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