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Fisherfolk return to their normal activities at the Taal lake in Talisay, Batangas on Saturday, September 23, 2023, as the volcanic smog from Taal volcano clears due to the rains. Maria Tan, ABS-CBN News


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Solar Philippines, Leviste-led firm to pour P5-B for Batangas rural dev’t

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/171054978111520230922-taal-lake-vog-MT-8.jpg" style="width:950px" class="fr-fic fr-dib" alt="Fisherfolk return to their normal activities at the Taal lake in Talisay, Batangas on Saturday, September 23, 2023, as the volcanic smog from Taal volcano clears due to the rains. Maria Tan, ABS-CBN News "/>Fisherfolk return to their normal activities at the Taal lake in Talisay, Batangas on Saturday, September 23, 2023, as the volcanic smog from Taal volcano clears due to the rains. Maria Tan, ABS-CBN News </div>MANILA – A firm led by Solar Philippines founder Leandro Leviste has announced investing some P5 billion to boost rural Batangas’ development as part of the company’s &quot;commitment to foster sustainable development within the region.”In a release, Countryside Investments Holdings Corporation (Countryside) said it would lead the project with Solar Philippines Power Project Holdings, Inc. (Solar Philippines).The development also came following the start of the “world’s largest solar project” in the Philippines by SP New Energy Corporation (SPNEC) <a href="https://news.abs-cbn.com/business/01/01/24/worlds-largest-solar-project-breaks-ground-in-ph-says-spnec" rel="noopener noreferrer" target="_blank">last January</a> and MGen Renewable Energy&#x27;s P15.9-billion investment in SPNEC last Dec. 27, 2023.<div><a href="https://news.abs-cbn.com/business/12/28/23/pangilinan-now-head-of-spnec-after-meralco-investment" rel="noopener noreferrer" target="_blank">Pangilinan takes over as head of SPNEC after Meralco unit completes P15.9-B investment</a></div>“The proceeds from these transactions and other financing are earmarked for a series of development projects in Western Batangas, where Countryside and its affiliates have significant landholdings,” the statement read.“The strategic focus of the investment is on sectors that promise high-impact benefits for the local economy, including energy, industrial, and commercial projects. These initiatives are designed to create job opportunities, thereby addressing the urgent need for employment,” it added.Among the projects that can help spur the local economy include the SPNEC-led 63 MW Calatagan Solar Farm, which also aims to promote sustainability.This marks “the first of a series of developments that promise to bring long-term economic benefits to the community,” based on the statement.Countryside also vowed to work with communities in Batangas for inclusive growth and development.

The development also came following the SP New Energy Corporation (SPNEC) to Meralco PowerGen Corporation (MGen) earlier this year.

The development also came following the SP New Energy Corporation (SPNEC) to Meralco PowerGen Corporation (MGen) earlier this year.