Meralco eyes bigger stake in solar firm SPNEC

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Meralco eyes bigger stake in solar firm SPNEC
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Power retailer Manila Electric Co. is willing to take a bigger stake in SP New Energy Corp. , the developer of the largest single-site solar project worldwide, a top executive said.

“It’s a very complex huge undertaking. And I believe that once the entire 3,500 on 4,000 hectares are built, if we send you to outer space, you can take a photo of that facility from outer space,” Pangilinan said. The project spans five municipalities and 11 barangay and acquired a total of 2,620.8 hectares of land, of which 1,932.9 hectares are for phase 1, and the balance for the subsequent phase.

Rubio said the Terra Solar project would be completed in two phases, with phase 1 by 2026 and phase 2 by 2027.

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