SPC Power Corp. is accelerating a shift toward flexible and cleaner energy investments, earmarking P3 billion in capital expenditures for 2026 to fund battery storage and solar projects while also appointing a new top executive to lead its next phase of growth.
James Roy Villareal, former executive vice president, was elected by the board as the company’s new president and CEO on Thursday, succeeding the founder who is stepping down from executive duties but will remain on the board as chairman emeritus.
At the company's annual stockholders’ meeting on the same day, Villareal said the priorities this year included the commissioning of 160 megawatt-hours (MWh) of battery energy storage systems, faster development of solar projects and optimization of existing generation assets.
“We have a few major focuses,” he said, adding these include “the launch of our battery projects, accelerating solar development, and maximizing the performance of our existing plants.”
The battery projects, while not classified as renewable energy, are expected to support grid stability and the integration of renewables into the system, he continued.
The company also flagged continued risks from global fuel volatility and geopolitical tensions, particularly the ongoing Middle East conflict, which has led to higher operating costs, unstable revenues, and potential fuel supply constraints.
SPC said it was also evaluating participation in future government-led green energy auctions as part of its long-term expansion strategy.
The leadership transition comes after SPC posted a record P2.223 billion in consolidated comprehensive income in 2025, up 43 percent year on year, surpassing the P2-billion mark for the first time.
Operational performance also strengthened, with plant availability rising to 96.4 percent from 86.0 percent, distribution peak demand increasing eight percent to 127.7 MW, and system loss improving to six percent.
The company declared cash dividends of P1.20 per share, up 20 percent from the previous year, reflecting stronger earnings and improved operational efficiency.
SPC said its solid balance sheet, with P13.5 billion in assets and low leverage, provides strong financial flexibility as it pursues its energy transition and expansion pipeline.
SPC shares dropped P0.26, or 2.45 percent, to close at P10.36 each on Thursday. NAZYLEN JOY MABANGLO
