SP NEW Energy Corp. (SPNEC) said it initially plans to commence commercial operations of its solar project in Sta. Rosa, Nueva Ecija in northern Philippines by generating a capacity of 50 megawatts (MW) in the fourth quarter (Q4) of 2025.
“Subject to the resolution on the right-of-way issues and the completion of the line connecting the plant to the transmission grid, Phase 1A is expected to be commercially operational sometime in the fourth quarter of 2025,” the company told the Philippine Stock Exchange (PSE). Thursday.
SPNEC is developing a two-phase Sta. Rosa Nueva Ecija 2 Solar Power project (NE 2), the first phase of which will have a capacity of 225 MW. It has sub-phases of Phase 1A of 50 MW and Phase 1B of 175 MW.
The second phase concerns a 275 MW solar power plant.
The company said the 50 MW sub-phase of the solar project had been installed but was not yet operational “due to delays in the construction of the link due to right-of-way issues.”
“Preliminary construction or development work for the remainder of the NE 2 project has progressed significantly. However, construction work has not yet started due to grid restrictions,” SPNEC said.
Phase 1A began construction in December 2021 and the solar power plant will be 89.89% complete by the end of December 2023.
SPNEC builds through its Terra Solar Philippines, Inc. unit. also a project consisting of a 3,500 MW solar farm and a 4,500 megawatt-hour battery energy storage system.
The first phase of the project is expected to be completed in 2026, while the second phase is scheduled for 2027.
SPNEC is now controlled by the Pangilinan group through MGen Renewable Energy, Inc., the renewable energy development arm of Meralco Power Gen Corp. The latter is a unit of Manila Electric Co. (Meralco).
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partially owned by PLDT Inc.
Hastings Holdings, Inc., a part of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in Business world through the Philippine Star Group, which it controls. — Heroes Joy Talavera