SP New Energy Corporation (SPNEC) has moved to change its corporate name to MGEN Renewable Energy Holdings, Inc., adopt a new stock symbol (MGENR), and update its corporate logo, following a board resolution on January 21, 2026. The changes are subject to approval by stockholders and the Securities and Exchange Commission (SEC).

In a statement released today, SPNEC said the name change is part of Meralco Power Gen Corporation (MGEN)’s ongoing rebranding initiative, which began in August 2025, and aims to strengthen alignment across the One MGEN group, presenting a unified identity for its diversified power generation portfolio, including renewable energy.

“The filing is intended to enhance clarity and ease of identification for stakeholders and does not involve any changes to SPNEC’s ownership structure, operations, or existing renewable energy projects. SPNEC will continue to operate as usual, and further updates will be provided as necessary, subject to the approval of the company’s stockholders and SEC,” the statement read.

Incorporated on November 23, 2016, the company develops, operates, and maintains renewable energy facilities, primarily solar power. MGEN, the renewable energy subsidiary of Manila Electric Company (Meralco), is SPNEC’s controlling shareholder.

SPNEC has clarified that it is a separate corporate entity from Solar Para Sa Bayan Corporation (SPBC), the Solar Philippines-affiliated company linked to regulatory issues under founder Leandro Leviste. MGEN said SPNEC’s transactions were reviewed and approved by the PSE and SEC, and the company has no connection with SPBC.

SPNEC’s project portfolio includes large-scale solar developments such as the Nueva Ecija solar farm. The company said the rebranding will not affect existing contracts or ongoing operations.  

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