NexGen Energy Corporation (PSE:XG), a leading player in the renewable energy sector, has increased its stake in its subsidiary, Solar Powered Agri-rural Communities Corp. (SPARC), by subscribing to an additional 80 million common shares. This elevated NexGen’s ownership in SPARC from 77.78 percent to 95.56 percent, signaling a stronger commitment to the company’s solar energy projects.
The share acquisition comes as SPARC seeks to expand its operations and raise capital for growth initiatives. In tandem with the increased stake, SPARC has also boosted its authorized common stock from P10 million to P140 million.
SPARC currently owns and operates three solar farms located in the Luzon region—Bulacan, Zambales, and Bataan. The company plans to further expand its footprint with the addition of a new 8-10 MW solar facility in Palauig, Zambales, which will complement its existing 5 MW solar farm in the area.
The solar farms have shown strong financial growth, with revenue from electricity sales reaching approximately P116 million in 2024. NexGen’s increased investment in SPARC underscores its strategic focus on renewable energy, as the company continues to scale its portfolio.
“SPARC’s increase in authorized capital reflects both its confidence and commitment to expanding its solar operations,” said Eric Peter Y. Roxas, president and CEO of NexGen Energy. “As the parent company, NexGen will actively support SPARC’s mission to provide clean, reliable energy to the communities it serves.”
With its strengthened position in SPARC, NexGen is poised to play a key role in shaping the future of solar energy in the Philippines.
