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SP New Energy Corporation

Company Description
SP New Energy Corporation (SPNEC), formerly Solar Philippines Nueva Ecija Corporation, was incorporated and registered with the Securities and Exchange Commission on November 23, 2016 as a renewable energy power generation company. The primary purpose of SPNEC is to construct, erect, assemble, commission, operate and maintain power-generating plants, warehouses, terminals, and related facilities for the conversion of renewable energy into usable form fit for electricity generation and distribution. On October 24, 2022, the SEC approved the change of its corporate name to its present one.

The Company's product is electricity generated from its solar plant and sold through bilateral contracts with its customers or directly to the spot market.

On August 22, 2017, the Department of Energy (DOE) awarded SPNEC's affiliate, Solar Philippines Commercial Rooftop Projects, Inc. (SPCRPI), a solar energy service contract for the exclusive right to explore and develop the Sta. Rosa Nueva Ecija 2 Solar Power Project located in Santa Rosa, Peñaranda and San Lorenzo, Nueva Ecija. On December 29, 2017, SPCRPI executed a deed of assignment transferring all its rights and obligations under the service contract to SPNEC, which DOE acknowledged and approved in February the following year.

SPNEC is a wholly-owned subsidiary of Solar Philippines Power Project Holdings, Inc., which is part of the SP Group, an integrated developer, owner and operator of solar power projects. As of April 17, 2023, the Company has not yet started commercial operations.

Source: Prospectus (2021), SEC Form 17-C (2022)
Security Information
Sector Industrial
Subsector Electricity, Energy, Power & Water
Corporate Life
Incorporation Date Nov 23, 2016
Number of Directors 7
Stockholders' Meeting as per By-Laws first Monday of May of each year
Fiscal Year 12/31 (Month/Day)
External Auditor Sycip Gorres Velayo & Co.
Transfer Agent PNB Trust Banking Group
Contact Information
Business Address 20th Floor, Philamlife Tower, 8767 Paseo de Roxas, Makati City, Philippines 1226
E-mail Address [email protected]
Telephone Number +632 88172585, +63 9988889326, and +63 9178816684
Fax Number