MGen Renewable Energy, a power plant company, agreed to invest $280m in SPNEC, a renewable energy company. “The Department of Energy’s vision is to have about 35% of the country’s energy come from renewable energy, and this is one of Meralco’s major contributions to this goal. We are humbled and grateful for this opportunity to build this renewable energy platform with Meralco. We look forward to bring together Meralco’s capabilities and our solar developments for the benefit of all stakeholders,” Leandro Leviste, SPNEC Chief Executive.