Listed SPC Power Corp. fortified its plans to venture into renewable energy by amending its articles of incorporation to include RE development.
The company also included selling, brokering, marketing or aggregating of electricity to end-users in its primary purpose.
SPC Power said in a disclosure to the stock exchange its stockholders voted to approve the resolution to amend the primary purpose and principal office on Oct. 11. SPC’s primary purpose now includes development and utilization of RE resources, such as but not limited to biomass, solar, wind, hydro, geothermal, ocean energy sources or hybrid systems.
The company also decided to transfer its principal office from Cebu to Makati. SPC executives previously announced plans to invest in solar, hydro and battery storage projects.
“Our company has been looking seriously at projects in the solar and battery areas of the renewable space. In fact, we’ve closely reviewed a couple this year and we will be making investment in that,” SPC Power chairman Alfredo Henares said earlier.