Solar Philippines Nueva Ecija Corporation (SPNEC) is seeking a joint-venture (JV) partner to jointly develop and expand its 500 MWp Nueva Ecija solar farm project in Central Luzon, Philippines.
Work on the solar energy farm will be carried out in two phases – the initial phase involving the development of 225 MWp capacity and the second phase which will undertake the development of the remaining 275 MWp capacity of the Nueva Ecija plant.
SPNEC has also announced plans for an initial public offering (IPO), the proceeds from which is expected to fund the construction of the first 50-MWp sub-phase. It will also finance major land acquisition projects for future expansion of the Nueva Ecija solar project.