Solar Philippines to swap solar projects for shares in SPNEC

Solar Philippines Power Project Holdings Incorporated (SP) is planning to exchange 20 solar projects in its portfolio for 24.37 billion of outstanding shares of Solar Philippines Nueva Ecija Corporation (SPNEC).

An independent financial advisor will conduct a third-party valuation and fairness analysis on the asset-for-share swap before it can be finalised.SP is reserving the subject assets for possible asset-for-share exchanges with SPNEC while the third-party review is ongoing. Certain solar projects are currently operational, while others are expected to begin operations in the future due to their scale.