Founder, President and CEO of Solar Philippines, Leandro Leviste | PHOTO: Official website of SM / My Story, My SM
Businessman Leandro Leviste’s Countryside Investments Holdings Corp. is set to shell out over P5 billion for the development of Batangas province, mainly through energy, commercial and industrial projects.
Countryside on Friday said it was leading the venture with Solar Philippines Power Project Holdings Inc., the parent company of solar firm SP New Energy Corp. (SPNEC).
SPNEC, now led by billionaire Manuel Pangilinan, recently sold P15.9 billion worth of shares to renewable energy firm MGen Renewable Energy Inc.
READ: Metro Pacific invests P2B in Leandro Leviste’s solar power firm
Part of the proceeds will be used for several development projects in Batangas, according to Countryside.
“The strategic focus of the investment is on sectors that promise high-impact benefits for the local economy, including energy, industrial and commercial projects,” Countryside said in a statement.
The initiative is likewise expected to create jobs for over 13,000 farmers who recently lost their source of income following the closure of the Central Azucarera Don Pedro sugar mill, owned by Roxas Holdings Inc., in Nasugbu, Countryside added.
While the company did not disclose its other upcoming projects in the province, it emphasized that it was “working closely with communities in Batangas to usher in a new era of sustainable development and shared prosperity.”
SPNEC currently operates the 63-megawatt Calatagan solar farm meant to drive local development and promote sustainability.