SP NEW Energy Corp. (SPNEC) said it seeks to initially start commercial operations of its solar power project in Sta. Rosa, Nueva Ecija in northern Philippines by generating 50 megawatts (MW) of capacity by the fourth quarter (Q4) of 2025.
“Subject to the resolution on the right-of-way issues and completion of the line connecting the plant to the transmission grid, Phase 1A is expected to achieve commercial operations sometime Q4 of 2025,” the company told Philippine Stock Exchange (PSE) on Thursday.
SPNEC is developing a two-phase 500-MW 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 at 50 MW and Phase 1B at 175 MW.
The second phase involves a 275-MW solar power plant.
The company said the solar power project’s 50-MW sub-phase had been installed but was not yet operational “due to delays in the construction of the connection asset due to right-of-way challenges.”
“Pre-construction or development work for the remainder of the NE 2 project has progressed significantly. However, construction works have not yet started on account of grid constraints,” SPNEC said.
Phase 1A started construction in December 2021, and the solar power plant is 89.89% complete as of end-December 2023.
SPNEC through unit Terra Solar Philippines, Inc., is also building a project consisting of a 3,500-MW solar farm and 4,500-megawatt-hour battery energy storage system.
The first phase of the project is scheduled to be finished by 2026, while the second phase is targeted 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 partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
