THE founder of Solar Power Project Holdings Inc. (Solar Philippines) has acquired a 60-hectare poultry farm in Nueva Ecija as part of his commitment to invest P15 billion in the provinces to “create jobs.”

Leandro Leviste’s acquisition will be done through Provincia Investments Corp. and is on top of the P5 billion that his Countryside Investments Holdings Corp. is putting in in Batangas.

Leviste, however, did not disclose details of the acquisition and the other investments in the provinces.

Leviste in a statement said these investments are primarily funded from the sale of secondary shares of SP New Energy Corp. (SPNEC) that Solar Philippines sold to Meralco PowerGen Corp. (MGen).

MGen recently paid Solar Philippines P6.7 billion for 5.8 billion shares of SPNEC. Solar Philippines has raised approximately P15 billion to date from its SPNEC shares, and will continue to own approximately 29 percent of the company.

SPNEC’s solar projects are concentrated in Batangas, Tarlac and Nueva Ecija.

In 2021, Provincia entered into a loan agreement with Ayala’s AC Energy Corp. (ACEN) to fund the acquisition of land in Tarlac. The loan with ACEN has since been fully repaid, Leviste said.

Provincia said it will work with Solar Philippines to develop its landbank in Batangas, Tarlac and Nueva Ecija.