SP New Energy Corp. (SPNEC), a Philippines-based renewable energy developer headquartered at Rockwell Business Center in Pasig City, has announced progress on its PHP 200 billion (~ $3.42 billion) MTerra Solar Project through the signing of two key engineering, procurement, and construction (EPC) contracts. According to SPNEC’s disclosure to the Securities and Exchange Commission on October 23 2025, the agreements cover the South Block of the project, which includes a 1,050 MWp solar farm integrated with a 1.2 GWh battery energy storage system in Central Luzon. The onshore EPC contract has been awarded to GEDI Construction Development Corp., while the offshore portion was granted to China Energy International Group Co. Ltd. and China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd., with both including long-term warranty and maintenance provisions to ensure operational reliability.