Actis acquires 40% stake in Luzon solar facility

UK-based investment firm Actis has finalized its acquisition of a 40-percent stake in Meralco PowerGen Corp.'s P200-billion solar facility in Luzon. The deal, valued at $600 million, was announced by SP New Energy Corp. This acquisition comes over six months after the initial agreement was signed in September 2024. The solar farm is being developed in Nueva Ecija and Bulacan. Meralco PowerGen Corp. aims to enhance the Philippines' clean energy capacity through this partnership, addressing the country's growing energy needs.