Solar Philippines to develop 4 GW solar project in Nueva Ecija

Solar Philippines Nueva Ecija Corporation (SPNEC) plans to acquire an additional 2,500 hectares of land in Bulacan and Nueva Ecija provinces that will be used for the 3.5 GW solar photovoltaic (PV) farm expansion of its 500 MW solar park presently under development.

The funding for the property purchases will be sourced from the proceeds of SPNEC’s stock offering, although it has not specified yet the scale of allocation for this undertaking. SPNEC targets raising stock offering of up to PHP10 billion (US$178.1 million).