This move supports SPARC’s funding needs for corporate purposes, including expansion, as it raised its authorized common stock from P10 million to P140 million.
SPARC operates three solar farms in Luzon—Bulacan, Zambales, and Bataan—and plans to add an 8 to 10-MW solar facility in Palauig, Zambales, alongside its existing 5-MW plant.
The solar farms have consistently delivered strong financial results, generating P116 million in electricity sales revenue in 2024.
Management’s view
“SPARC’s increase in its authorized capital stock reflects the company’s confidence and commitment to grow its portfolio of solar farms, hand in hand with NexGen’s other solar subsidiaries,” said NexGen president and CEO Eric Roxas.
“As the parent company, XG will be a proactive partner in helping SPARC produce clean and reliable energy for the communities it serves,” he added.
