Meralco PowerGen Corporation (MGEN) clarified that SP New Energy Corporation (SPNEC) is a separate and distinct corporate entity from Solar Para Sa Bayan Corporation (SPBC), amid claims circulating online linking the two companies.

In a media statement issued on January 11, MGEN said, “SP New Energy Corporation (SPNEC) is a separate and distinct corporate entity from Solar Para Sa Bayan Corporation (SPBC).”

The company said it did not acquire any share in SPBC, which holds a congressional franchise under Republic Act 11357 to construct, install, and operate microgrids in remote areas. It added that it is not privy to any transactions of SPBC, nor to matters related to its franchise compliance.

MGEN issues the clarification following public claims linking its investment in SPNEC to SPBC, which came amid reports that the Office of the Ombudsman is investigating the alleged transfer or sale of a solar energy franchise without congressional approval, an issue involving SPBC and not SPNEC.

“MGEN’s investment in SPNEC did not violate any law or regulation,” the company said, adding that SPNEC’s transactions, including MGEN’s entry through its affiliates, were reviewed and approved by the Philippine Stock Exchange and the Securities and Exchange Commission.

The company also stressed that SPNEC’s business and operations are not dependent on the SPBC franchise, further highlighting that the renewable energy firm operates independently of the microgrid franchise holder.

“We hope this clarifies the issue and lays to rest the disinformation coming out especially in social media,” said Christer A. Gaudiano, MGEN Head for Sustainability, Corporate Communications, and External Affairs.

As questions continue to surface around ownership structures and franchise issues in the energy sector, how can clearer disclosures help prevent confusion between legally distinct companies and ongoing regulatory investigations?

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