SP New Energy in talks with potential investors

RENEWABLE power supplier SP New Energy Corp. (SPNEC) is planning to bring in new investors into Terra Solar Philippines Inc., touted to be "the world's largest solar project" once it becomes operational, company chairman Manuel V. Pangilinan said.

"Right now, SPNEC owns 100 percent of Terra Solar. We will have to get in new investors into the Terra Solar project company level to help us with the financing of the total project because the estimated cost is about P200 billion to implement the project fully," said Pangilinan, who is chairman of both SPNEC and power distributor Manila Electric Co. (Meralco).