MTerra Solar Awards EPC Contract to Energy China for Phase 2

MGEN and Energy China Executives seal partnership for the execution of Engineering, Procurement, and Construction (EPC) Contracts for MTerra Solar Project Phase 2. Seen on the photo (from L-R) are: MGEN Renewables Supply Chain Management Head; MGEN Renewables Project Development and Execution Head Ashvind Gobinathan; MGEN Renewables Chief Finance Officer Rochel Donato Gloria; MGEN Chief Legal Counsel and Corporate Governance and Compliance Officer Atty. Mary Ann Ballesteros; MGEN Renewables and MTerra Solar President & CEO Dennis B. Jordan; Energy China International Group Vice President Zhang Deliang; Energy China Guangdong Electric Power Design Institute Vice President Chen Lan; Energy China Guangdong Electric Power Design Institute Construction Development General Manager Guo Chuangang; Energy China Philippines Branch General Manager Man Yunchao.

Terra Solar Philippines, Inc. (TSPI), a subsidiary of SP New Energy Corporation (the “Company”), executed on 23 October 2025, agreements in relation to the engineering, procurement, and construction works for the South Block of TSPI’s 3,500 MWp solar farm and 4,500 MWhr battery energy storage system in Central Luzon (the “MTerra Solar Project”).

The agreements are as follows:

1. Engineer, Procure, and Construct (“EPC”) Contract (Onshore Contract), with GEDI Construction Development Corporation; and
2. EPC Contract (Offshore Contract), with China Energy International Group Co., Ltd. and China Energy Engineering Group Guangdong Electric Power Design Institute Co., Ltd. (the “EPC Contracts”).
The EPC Contracts cover warranty, defect resolution, and the implementation of operational and maintenance protocols to ensure long-term reliability and success of the MTerra Solar Project. The South Block accounts for 1,050 MWp solar farm and 1.2 GWh battery energy storage system of the MTerra Solar Project.