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MGen Renewable Energy Inc. (MGreen), a unit of listed power distributor Manila Electric Co. (Meralco), has acquired 2.17 billion shares of SP New Energy Corp. (SPNEC) from its parent Solar Philippines Power Project Holdings Inc. for P2.5 billion. This represents 4.34 percent of SPNEC, the company said in its disclosure…
MGen Renewable Energy Inc. (MGreen), a unit of Manila Electric Co. (Meralco), has completed its P15.9-billion investment in SP New Energy Corp. (SPNEC) and has taken a controlling stake in the solar company. Late last week, SPNEC received the approval of the Securities and Exchange Commission (SEC) to amend its…
BUSINESSMAN Manuel V. Pangilinan is set to become chairman of SP New Energy Corp. (SPNEC), after MGen Renewable Energy (MGreen) completes its P15.9-billion investment in the solar energy firm founded by Leandro Leviste. In a disclosure to the Philippine Stock Exchange, SPNEC said MGreen made its balance payment of P8.9…