SPNEC aims for industrial land conversion by fourth quarter - BusinessWorld Online

SP New Energy Corp. (SPNEC) is expecting to complete the conversion of about 3,000 hectares of land in Nueva Ecija and Bulacan for industrial use by the fourth quarter of 2023.

SP New Energy Corp. is expecting to complete the conversion of about 3,000 hectares of land in Nueva Ecija and Bulacan for industrial use by the fourth quarter of 2023.

SPNEC said that it had secured off-take agreements for its projects in 2022 and is now preparing the industrial land conversion in the two provinces. The company has set until the end of the first quarter of 2023 to complete the submission for the land conversion. Under the power supply agreement it forged Meralco, Terra Solar needs to deliver 600 MW by Feb. 26, 2026, and an additional 250 MW starting on Feb. 26, 2027.

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