The company, now controlled by tycoon Manuel V. Pangilinan, said its board approved the change on Jan. 21, 2026, subject to stockholder and Securities and Exchange Commission approval.
Scrutiny in the background
The move comes as Solar Philippines entities founded by Batangas Rep. Leandro Leviste have faced heightened scrutiny after the Department of Energy terminated dozens of renewable service contracts, with reports citing about P24 billion in penalties or obligations linked to cancelled contracts.
The issue has also moved into the political arena, with the Office of the Ombudsman is probing allegations of legislative franchise “flipping” involving Solar Para sa Bayan Corp., while the House Committee on Legislative Franchises has signaled its own inquiry.
SPNEC’s position
SPNEC said Solar Philippines Power Project Holdings, Inc. is a stockholder of the listed company, but stressed it is a separate entity from Solar Philippines.
It also disclosed it received a termination notice for a service contract covering its Sta. Rosa Project, which it said is being handled separately through a force majeure claim and ongoing discussions with the Department of Energy.
—Edited by Miguel R. Camus
