Push Admin

Solar Philippines Nueva Ecija Corp inks renewable energy supply deal

Article (news)

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Solar Ranch or Southeast Asia’s largest solar project will soon rise on a former ranchland developed by Solar Philippines Nueva Ecija Corporation. Handout" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2021/life/12/15/20211214-solar-ranch.jpg"/><figcaption>Solar Ranch or Southeast Asia’s largest solar project will soon rise on a former ranchland developed by Solar Philippines Nueva Ecija Corporation. <em>Handout</em></figcaption></figure></div><p>MANILA - Newly listed Solar Philippines Nueva Ecija Corp on Monday said it signed an agreement to supply renewable power to the third largest distribution utility in Luzon. </p><p>SPNEC signed a renewable power supply agreement (PSA) with Angeles Electric Corp (AEC), it said in a disclosure to the stock exchange.</p><p>Under the deal, SPNEC would supply AEC about 97.8 MWh per day from 6 a.m. to 6 p.m. for 10 years, the company said.</p><p>This would provide SPNEC a base of contracted revenues while being able to sell the rest of its energy to the spot market or off-takers, it said. </p><p>The deal underwent a competitive selection process (CSP), it said. </p><p>“We wish to thank Angeles Electric for conducting a very professional CSP that will benefit the consumers of Angeles City. We are grateful for this opportunity to work with Angeles Electric, which is a pioneer of the solar industry of the Philippines,” Solar Philippines founder Leandro Leviste said.</p><p>“The contracting of the first phase of our solar farm shows that renewable energy in the Philippines is a supply-constrained market. This reinforces our drive to expand SPNEC’s capacity, to meet the great demand for renewable energy in the Philippines,” Leviste added.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/17/21/spnec-lists-on-philippine-stock-exchange">Solar Philippines Nueva Ecija Corp debuts on Philippine Stock Exchange</a></li>	<li><a href="https://news.abs-cbn.com/business/12/27/21/solar-philippines-begins-construction-of-nueva-ecija-plant">Newly listed Solar Philippines begins construction of Nueva Ecija plant</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1832625" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Solar Philippines Nueva Ecija Corp on Monday said it signed a deal to supply renewable power to the third largest distribution utility in Luzon. 