Publicly-listed firm SPC Power Corporation and its affiliate-firm Intrepid Holdings Inc. (IHI) have acquired the 51 percent shareholdings of German firm STEAG GmbH in the 210-megawatt coal-fired power plant in Mindanao in a transaction valued at $52 million. In a disclosure to the Philippine Sto
Published May 28, 2021, 4:26 PM
Listed firm SPC Power Corporation is pacing its investment shift into renewables, with targeted solar and hydro projects, as well the deployment of battery energy storage systems.
According to SPC Chairman Alfredo L. Henares, the company “has been looking seriously at projects in the solar and battery areas of the renewable space,” with him adding that “we’ve closely reviewed a couple this year and we will be making investment in that.”
He nevertheless qualified that “our efforts in solar still have to yield some good results, but it’s an area we’re looking deeply into and we hope to have something in there by late this year or early next year.”
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