Energy Giants MVP and Leviste Eye Second Solar Project
- March 19, 2025
Power tycoons Manny V. Pangilinan of Meralco and Leandro Leviste of Solar Philippines may soon be working together on another solar power project in the Philippines–a follow-up to their large-scale integrated solar and energy storage project, MTerra Solar, in Nueva Ecija.
The Meralco CEO and chair of SP New Energy Corporation (SPNEC) told reporters that they were considering a second Terra Solar plant in Batangas.
“We’re talking to Lean (Leviste). He said they have property there already,” Pangilinan said.
The 32-year-old Leviste, who is the founder and CEO of Solar Philippines, hails from Batangas. He recently announced he is investing over P15 billion in various projects in his home province.
Leviste served as the president and CEO of SPNEC until December 2023, when the MVP Group, via Meralco PowerGen Corp. (MGen), acquired the solar power plant developer.
Pangilinan clarified that while discussions are ongoing for a second solar farm project, nothing has been finalized yet.
(Also read: Meralco Eyes IPO or Backdoor Listing of RE Unit to Boost Growth)
World’s largest integrated solar and BESS
This project could come on the heels of the MTerra Solar project, which is set to become the largest integrated solar and battery energy storage system (BESS) facility in the world once completed.
(Also read: SPNEC secures P150B loan for MTerra Solar)
MTerra Solar, a joint project between SPNEC and global investors, will combine a 3,500-megawatt (MW) large-scale solar farm with a 4,500-MW BESS facility.
The MTerra Solar project, which company officials said is “slightly ahead of schedule,” is expected to supply power to at least 2.4 million homes. It is also backed by substantial investment from the global firm Actis, which owns a 40% stake in the project.
The first phase of the project, scheduled for completion by 2026, will have a capacity of 2,500 MW. The second phase, slated to go online by 2027, will have a capacity of 1,000 MW.
Sources:
https://www.philstar.com/business/2025/03/17/2428848/mvp-leviste-partner-anew-solar-project
https://manilastandard.net/business/314498623/leviste-investing-p15b-in-provincial-projects.html
https://mb.com.ph/2023/12/26/mvp-takes-reins-of-spnec-from-leviste
https://plus.inquirer.net/business/worlds-largest-solar-plant-may-get-a-sibling-says-mvp/
https://businessmirror.com.ph/2025/03/17/spnec-eyes-solar-farm-build-on-levistes-batangas-estate/
