Pasig City, Philippines – 18 January 2026 — SP New Energy Corporation (SPNEC) wishes to clarify that it is not liable to pay the Php 24 billion penalties quoted by the Department of Energy (DOE) for the terminated service contracts of Solar Philippines.
Of the 12,000 MW worth of contracts that have been terminated, only one for the 280MW Sta. Rosa project is under SPNEC. The former management of the Sta. Rosa project offered and was awarded 280 MW in the first round of the Green Energy Auction Program of the DOE. This project already filed a notice of force majeure with the DOE last year citing reasons beyond its control preventing it from completing the project by its target of December 2025.
MGEN Renewables has demonstrated a strong execution track record, having completed two projects ahead of schedule under the Department of Energy’s second Green Energy Auction (GEA-2) program. These include the 19.8 Mwac MGEN Renewables Bongabon Solar project in Nueva Ecija (completed at least six months ahead of schedule), and the 52.8 Mwac MGEN Renewables Cordon Solar project in Isabela (completed four months ahead of schedule).
Today, MGEN operates seven (7) solar sites across the country with more than 400 MW total capacity. It is also currently building the MTerra Solar project, which is touted as one of the biggest solar projects in the world with 3,500 MWp of solar capacity integrated with 4,500 MWhr of energy storage.