Pangilinan, Leviste plan new solar project following 200B pesos Terra Solar Development

Business magnates Manuel V. Pangilinan and Leandro Leviste are collaborating on a new solar energy initiative, tentatively named Terra Solar 2, following their ₱200-billion Terra Solar project.

Although details are pending finalization, the proposed Terra Solar 2 is expected to be located in South Luzon, specifically in Batangas, where Leviste's group reportedly owns property.

While the new project may not match the scale of the original Terra Solar development, it is anticipated to encompass several thousand hectares.

The project aims to deliver 3,500 megawatts-peak of solar power to the Luzon grid, supplemented by a 4,500 megawatt-hour battery energy storage system wherein, the development is scheduled in phases, with completion targeted between 2026 and 2027.

The planned Terra Solar 2 will be managed by SP New Energy Corp. (SPNEC), which is set to be renamed MGen Renewable Energy Inc. (MGreen) as part of a potential backdoor listing of Meralco PowerGen Corp.'s renewable energy subsidiary.