{"id":330790,"date":"2024-12-05T12:35:24","date_gmt":"2024-12-05T04:35:24","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330790"},"modified":"2024-12-05T12:35:26","modified_gmt":"2024-12-05T04:35:26","slug":"trade-the-news-spnec-awards-mterra-solar-contract-to-power-china","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-spnec-awards-mterra-solar-contract-to-power-china\/","title":{"rendered":"Trade the News: SPNEC awards MTerra Solar contract to Power China"},"content":{"rendered":"\n
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>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 1.40<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

SP New Energy Corp. (SPNEC) of tycoon Manuel V. Pangilinan has tapped Power Construction Corp. of China Ltd. (Power China) to develop a portion of the $4-billion MTerra Solar project in Central Luzon.<\/p>\n\n\n\n

SPNEC, a subsidiary of Meralco PowerGen Corp. (MGen), inked an engineering, procurement and construction (EPC) contract with Power China and its affiliates to build the project\u2019s east section spanning around 1,505 hectares.<\/p>\n\n\n\n

SPNEC unit Terra Solar Philippines Inc. (TSPI) is constructing a 3,500-megawatt-peak (MWp) solar power plant paired with a 4,500-MW hour battery energy storage system, which is poised to become the largest of its kind in the world.<\/p>\n\n\n\n

Straddling the provinces of Nueva Ecija and Bulacan, the solar facility covers about 3,500 hectares of land, equivalent to the size of around 83,300 basketball courts or almost the same size as Pasig.<\/p>\n\n\n\n

MGen, the investment generation arm of power giant Manila Electric Co., took over the project in 2023 after acquiring a controlling stake in SPNEC through MGen Renewable Energy Inc.<\/p>\n\n\n\n

\u201cWe sign this EPC agreement with Power China, recognizing their expertise, exceptional track record and unwavering commitment to excellence. We know that they will help us realize our bold ambition,\u201d MGen and SPNEC president and CEO Emmanuel Rubio said.<\/p>\n\n\n\n

Power China is a globally recognized leader in the field of planning, design and construction of energy infrastructure with a presence across Africa, Asia and Europe.<\/p>\n\n\n\n

Under this recently signed deal, Power China will lead the construction of the eastern portion of the project, which accounts for 1,050 MWp of the total capacity of MTerra Solar.<\/p>\n\n\n\n

This area includes Makabaklay town in Gapan, Pias town in General Tinio and Callos town in Pe\u00f1aranda, all located in Nueva Ecija.<\/p>\n\n\n\n

Power China will also oversee procurement, design, engineering, permitting, manufacturing, testing, logistics and on-site delivery of materials related to the project execution.<\/p>\n\n\n\n

The agreement also covers warranty, defect resolution and the implementation of operational and maintenance protocols to ensure long-term reliability and success of the solar facility.<\/p>\n\n\n\n

\u201cMTerra Solar serves as our bold step toward ensuring a sustainable energy future for the Philippines. With Power China as our partner, we are well on our way to achieving our vision,\u201d TSPI president and executive director Dennis Jordan said.<\/p>\n\n\n\n

This latest partnership followed the signing of an EPC contract with China Energy Engineering Group Co. Ltd. to construct the western portion of the MTerra Solar project.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/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-330790","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\/330790","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=330790"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330790\/revisions"}],"predecessor-version":[{"id":330792,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330790\/revisions\/330792"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}