{"id":328752,"date":"2024-08-05T00:38:00","date_gmt":"2024-08-04T16:38:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328752"},"modified":"2024-08-05T19:36:12","modified_gmt":"2024-08-05T11:36:12","slug":"trade-the-news-spnecs-terra-solar-project-lures-long-list-of-investors","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-spnecs-terra-solar-project-lures-long-list-of-investors\/","title":{"rendered":"Trade the News: SPNEC\u2019s Terra Solar project lures \u2018long list\u2019 of investors"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Manila Electric Co. (Meralco)<\/td><\/tr>
Stock Code<\/strong><\/td>MER<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 351.25<\/td><\/tr>
<\/td><\/td><\/tr>
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>SP New Energy Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>SPNEC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Unrated<\/td><\/tr>
1-Year Target Price<\/strong><\/td>Unrated<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

SP New Energy Corp. (SPNEC), a unit of Manila Electric Co. (Meralco), could soon wrap up a deal to take in one or two foreign investors for its P200 billion Terra Solar project, said to be the largest solar farm in the world.<\/p>\n\n\n\n

Manuel V. Pangilinan, chair of SPNEC, said they are closing in on an August 15, 2024 bid submission target from \u201ca very long list of investors.\u201d <\/p>\n\n\n\n

\u201cBy the end of August, the board will have to choose,\u201d he said.<\/p>\n\n\n\n

Pangilinan earlier said they were open to selling up to 40 percent of the project to two investors. But during the interview, he said they could decide to just go with one partner.<\/p>\n\n\n\n

\u201cAt most two, most likely one,\u201d he said.<\/p>\n\n\n\n

Through Terra Solar, the group is developing a solar farm in Nueva Ecija and Bulacan with 3,500 megawatts and 4,000 megawatt-hours of battery storage. The first phase of 2,500 MW is set for completion by 2026.<\/p>\n\n\n\n

Pangilinan noted that Meralco is interested in raising its controlling stake in SPNEC if a suitable opportunity arises.<\/p>\n\n\n\n

\u201cIt\u2019s a good project. It owns 100 percent of Terra Solar for now. It\u2019s the largest single site solar facility in the world, and the Philippines should be proud of that. It\u2019s a very complex, huge undertaking,\u201d he said.<\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-328752","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328752"}],"version-history":[{"count":3,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328752\/revisions"}],"predecessor-version":[{"id":328785,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328752\/revisions\/328785"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}