Solar Philippines
Solar Philippines is a Philippine renewable energy developer founded in 2013, operating through subsidiaries that build utility-scale solar and battery storage projects (including the 3.5 GW Terra Solar complex), sell electricity under government power supply contracts, and serve utilities and underserved communities.
- Company typePrivate
- Founded2013
- HeadquartersMakati, Philippines
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Solar Philippines does
Solar Philippines is a Philippine renewable energy developer founded in 2013 and headquartered in Makati, operating across solar farm development, battery storage integration, and electricity generation. The company operates through multiple subsidiaries, most notably SP New Energy Corporation (SPNEC), which is developing the 3.5 GW Terra Solar complex positioned as the world's largest solar-plus-battery storage project, and Solar Para Sa Bayan Corporation (SPBC), which holds a 25-year legislative franchise granted in 2019 for electrification of underserved communities. The company also operates Solar Philippines Power Project Holdings for power generation projects.
The business model centers on long-term power supply contracts secured through Department of Energy auctions and legislative franchises, with energy generation and offtake structured as recurring contracted revenue. Go-to-market is enterprise/government-led: the company participates in DOE green energy auctions, secures legislative franchises, and partners with major utilities. In October 2025, Meralco, the Philippines' largest electricity distributor, acquired over 57% of SPNEC for approximately PHP 13.76 billion, effectively making SPNEC a strategic subsidiary of Meralco while Solar Philippines retains the rest of the group.
Solar Philippines has faced severe regulatory setbacks: the DOE canceled 33 of its 42 power supply contracts and imposed a P24 billion fine for failure to deliver on commitments; Solar Philippines Power Project Holdings received a separate P24 billion fine with 28 contracts totaling 12,000 MW canceled; and a criminal complaint was filed against founder Rep. Leandro Antonio Leviste for franchise violations. The flagship Terra Solar project remains in development rather than commercial operation, and the company's contracted revenue base has thinned substantially even as capital backing from Meralco has strengthened.
Solar Philippines firmographics
Firmographics- Name
- Solar Philippines
- Website
- https://solarphilippines.ph
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Solar Philippines is a Philippine renewable energy developer founded in 2013, operating through subsidiaries that build utility-scale solar and battery storage projects (including the 3.5 GW Terra Solar complex), sell electricity under government power supply contracts, and serve utilities and underserved communities.
- Ownership category
- akta.pro rank
Solar Philippines industry classification
Industry- Product category
- Solar Power Generation
- NAICS
- Solar Electric Power Generation (221114)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)
Keywords
Where Solar Philippines is headquartered
LocationHeadquarters
- HQ city
- Makati
- HQ country
- Philippines
- HQ region
- Asia
Markets served
Solar Philippines business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Others
Revenue model
- Power Supply Contracts: Solar Philippines generates revenue through long-term power supply contracts secured via government auctions and legislative franchises. The company develops solar energy projects and sells electricity under contracted agreements.
- Asset Monetization: The company has monetized assets through equity transactions, including the sale of SP New Energy Corp shares to Meralco for PHP 13.76 billion.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels1 record
Solar Philippines product offering
Product offeringCore offering
Solar Philippines develops and operates utility-scale solar farms with integrated battery storage, generating electricity under long-term power supply contracts secured via government auctions and legislative franchises. Its flagship is the 3.5 GW Terra Solar complex, positioned as the world's largest solar-plus-battery storage project, developed through subsidiary SP New Energy Corporation (SPNEC).
Product overview
Solar Philippines operates as a renewable energy developer with multiple subsidiaries developing large-scale solar projects. The company is primarily known for the Terra Solar Complex, a 3.5 GW solar-plus-battery storage project being developed through SP New Energy Corporation (SPNEC), in which Meralco holds a majority stake exceeding 57%. The company also operates Solar Para Sa Bayan Corporation (SPBC), which was granted a franchise for electrification projects but has faced regulatory issues. The product portfolio centers on utility-scale solar energy generation and battery storage solutions targeting the Philippines' growing renewable energy market.
Differentiator
Problem solved
Functional benefit
Products and services
- Terra Solar Complex
- Solar Para Sa Bayan (SPBC) Electrification Franchise
Quantifiable outcome
- Philippines renewable energy market growth from 14.45 GW (2026) to 34.37 GW (2031)
Companies that use Solar Philippines
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Solar Philippines technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Solar Philippines partnerships and signals
Strategic signalScale indicators7 records
Recent moves7 records
Expansion highlights4 records
Solar Philippines competitors and assessment
Company assessmentMarket position
Strengths4 records
Weaknesses1 record
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Solar Philippines social profiles
Digital presenceSolar Philippines financial estimates
Financial estimateRevenue estimate
Valuation estimate
Solar Philippines leadership team
Management profileNumber of profiles
Profiles1 record
Solar Philippines subsidiaries and ownership
Company hierarchySubsidiaries3 records
Solar Philippines funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Solar Philippines M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Solar Philippines
What does Solar Philippines do?
Solar Philippines develops and operates utility-scale solar farms with integrated battery storage, generating electricity under long-term power supply contracts secured via government auctions and legislative franchises. Its flagship is the 3.5 GW Terra Solar complex, positioned as the world's largest solar-plus-battery storage project, developed through subsidiary SP New Energy Corporation (SPNEC).
Is Solar Philippines a public or private company?
Solar Philippines is a private company. It is classified as corporate owned and is currently operating.
When was Solar Philippines founded?
Solar Philippines was founded in 2013. It employs 1,001 to 5,000 people.
Where is Solar Philippines based?
Solar Philippines is headquartered in Makati, Philippines, in the Asia region.
How does Solar Philippines make money?
Two revenue lines are on record. Power Supply Contracts are the primary driver. The others are asset Monetization.
Does Solar Philippines have an API?
No public API is recorded for Solar Philippines.
What industry is Solar Philippines in?
Solar Philippines's product category is Solar Power Generation. Its primary akta.pro industry code is EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System). Its NAICS code is 221114 and its SIC code is 4911.