[diggan]

Seems it was funded by the IPO of "SP New energy Corp"

> Funded by proceeds from its P2.7-billion initial public offering, the first 50 megawatts are targeted to start delivering power to the grid by the end of 2022, driving profitability for the firm - https://www.gmanetwork.com/news/money/companies/815990/spnec...

> Mr Leandro Leviste, 28, will seek to raise as much as 2.7 billion pesos (S$74 million) by selling shares in Solar Philippines Nueva Ecija, a unit of his Solar Philippines Power Project Holdings. The funds will go towards constructing the first phase of a 500MW plant in a province about 130km north of Manila - https://www.straitstimes.com/business/economy/a-28-year-old-...

Interesting enough, seems the founder initially got the funds by selling their Tesla and SolarCity shares:

> Mr Leviste founded Solar Philippines in 2013 after selling the shares in Tesla Motors and SolarCity he bought while attending Yale University in the United States - https://www.straitstimes.com/business/economy/a-28-year-old-...

[dmurray]

That accounts for 2.7 billion pesos - a good start but hardly a dent in the 200 billion figure.

[lawgimenez]

SPNEC is owned (bought it from Leviste) by MVP which also owned several digital, electric, mining, hospital companies here. Totally rich nonetheless.

[diggan]

Yeah, I imagined. Also guessing Leandro Leviste had help to acquire their shares in the first place, as it's not super common for people to have funds available for stocks when they join university, unless someone help them afford it.

[lawgimenez]

He’s the son of one of the largest political clans here too. If you know what I mean.

[alephnerd]

From Batangas right?

[lawgimenez]

I believe so.