SP New Energy Corp. said Wednesday that together with its subsidiaries, it secured more than 4,000 hectares of land, mostly in the provinces of Nueva Ecija, Bulacan, Tarlac and Batangas.
SPNEC said in a disclosure to the Philippine Stock Exchange that it secured over 3,000 through deeds of sale or contracts to sell and another 1,000 hectares through contracts to lease.
It said more than 2,000 hectares were approved for conversion into industrial use. SPNEC has been increasing its land holdings as large solar power projects require vast areas.
“We thank all who have helped us grow SPNEC’s assets, from its initial 352 hectares, to over 4,000 hectares, and from a single project, to a portfolio of projects operating, under construction, and under development. It is time for us to build upon what we have so far, and work on turning these hectares into megawatts,” Solar Philippines founder Leandro Leviste said.
SPNEC is a wholly-owned subsidiary of Solar Philippines which is part of the SP Group, an integrated developer, owner and operator of solar power projects.