SPC Power Corporation has earmarked PHP 3 billion in capital expenditures for 2026, with the bulk of spending allocated to battery energy storage and solar projects as the company accelerates its transition toward a larger renewable energy portfolio.

In a disclosure to the Philippine Stock Exchange, SPC confirmed reports of its plans to add 500 megawatts (MW) of new capacity in the coming years through project development and strategic acquisitions. 

“For 2026, the board of directors has approved and earmarked PHP 3 billion for capital spending for the year. The breakdown of which will be directly spent on our battery projects and our solar projects under development. We also are focused on maximizing the performance of our existing plants,” SPC President and CEO James Roy N. Villareal said.

 The company said 160 megawatt-hours (MWh) of battery energy storage systems (BESS) projects are scheduled for commissioning this year, while 100 MW of solar capacity is targeted for development by 2027 to 2028.

For energy sector stakeholders, SPC’s expansion plan signals that even established conventional power producers are increasingly deploying storage and solar assets to diversify earnings and position for the country’s growing clean energy market.

SPC also disclosed strong 2025 financial and operational results that provide balance sheet support for its expansion.

Consolidated comprehensive income reached P2.223 billion in 2025, up 42.3% year on year and marking the first time the company’s earnings exceeded the P2-billion level.

Total consolidated assets rose 15% to P13.5 billion, while liquidity remained robust with a current ratio of 4.3:1 and a debt ratio of just 0.17:1.

Operationally, plant availability improved to 96.4% in 2025 from 86.0% in the previous year, reflecting better reliability and maintenance performance.

The disclosure also noted a leadership transition. SPC founder Dennis T. Villareal stepped down as president and CEO and was named chairman emeritus, while James Roy N. Villareal, formerly executive vice president, assumed the top post.

With a sizable capex budget, a strong balance sheet, and a clear pipeline of solar and storage assets, SPC is positioning itself as an increasingly active player in the Philippines’ evolving energy landscape.

**What do you think of SPC’s push into battery storage and solar? Can mid-sized generators carve out a larger role in the country’s renewable energy buildout?**

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