Who Is Leandro Leviste, Leader of the Solar Energy Movement?
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When we think of Leandro Leviste, we think of his ever-increasing business and political pedigree. Leviste's name has been synonymous with solar energy in the Philippines. He is the latest of the Leviste family to be involved in property development. His mother, of course, needs no introduction at this point. The young energy tycoon is making headlines again this year with his businesses' aggressive expansion.
One of two sons of former Batangas Governor Antonio Leviste and Senator Loren Legarda, Leviste has created a robust portfolio, all before turning 30. At 20, he spearheaded Solar Philippines and grew into one of the most successful entrepreneurs in the nation through the corporation and its various entities. He's held positions in some of the leading business communities here, including with the Management Association of the Philippines and Makati Business Club.
Interestingly, it feels like he's just getting started.
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How Leandro Leviste Built Up Solar Energy in the Philippines
In 2013, Leviste established renewable energy manufacturer and producer Solar Philippines Nueva Ecija Corp (PSE: SPNEC). He was only 20 years old at the time and was just a sophomore at Yale University. He had hoped to help guide and accelerate the Philippines' renewable energy transition, meant to alleviate energy prices and create reliable energy. The young entrepreneur would be granted a $100-million bank loan for his pioneering work in the field.
The Leviste-majority-owned and -controlled SPNEC would go public in 2021 after obtaining approvals from regulators to raise up to P2.7 billion in an initial public offering (IPO). It sold up to 2.7 billion primary shares to the public at a price of P1.00 per share. With it also came the development of a 500 MW solar project that would be the largest in Southeast Asia. The company would promise 300 MV projects, ending up employing around 600 employees servicing the programs.
As a young man, he demonstrated a maturity in vision and leadership that would propel the group as a pioneer of solar energy in the Philippines. As a matter of fact, Solar Philippines to this day is Southeast Asia's single largest integrated solar developer, investor, manufacturer, and EPC, solar corporation. Among its most important projects include the massive 2 MWh Solar-Battery Micro-Grid project in Paluan, Occidental Mindoro, which was the first solar micro-grid of this size in Asia.
The group's first Filipino solar panel factory would open in 2017, leading to the creation of 1,000 manufacturing jobs. Leviste would end up partnering with Meralco's Manny V. Pangilinan for the formation of the Meralco unit MGen Renewable Energy Inc. in a P15.9-billion investment. Solar Philippines and its solar panels have even expanded to areas outside the country. Leviste would even partner with tech giant Tesla to run solar farms on Tesla batteries.
Solar Philippines also said that it would produce 1 GW by 2022. Among the projects that had been championed to achieve this are its 63 MW Batangas partnership with Korea Electric Power Corporation; 200 MW Tarlac partnership with the Razon Group's Prime Infra; and 140 MW Batangas and Cavite projects.
Leviste's accomplishments have also been heralded because of his focus on off-grid areas and marginalized communities. For his efforts, the international community has recognized Leviste's body of work. Forbes, for instance, would have him at the top of the list in the Energy and Industry category for its 30 Under 30 Asia back in 2016.
Forbes, for instance, would have him at the top of the list in the Energy and Industry category for its 30 Under 30 Asia back in 2016. One of his first solar projects was awarded the "2016 Sustainable Energy Finance Award" by the International Finance Corporation of the World Bank. In 2022, he would receive the Young Entrepreneur Award from Entrepreneur of the Year Philippines, as well. In addition, he's been recognized by the Asian Power Awards for Independent Power Producer of the Year and for the Solar Power Project of the Year.
Leandro Leviste's Other Business Pursuits Outside Solar
This year, in particular, the young Leviste has already been gearing up for the next phase of his investments. In the past year, Leviste's Solar Philippines reportedly sold more than P6 billion worth of shares of SPNEC.
Through Countryside Investment Holdings Corp. (CIHC), Leviste also took on a controlling state in the debt-stricken Roxas Holdings Inc. (RHI) from Hong Kong’s First Pacific Co. Ltd. The deal would give Leviste a 71.6-percent share of the ownership.
Earlier this year, Leandro Leviste pledged his support for local communities in Batangas as the largest individual shareholder of Roxas and Company Inc. (RCI). He had acquired 188.89 million shares of RCI. The group has actually been stuck in legal trouble with farmer groups. RCI oversaw the 97-year-old Central Azucarera Don Pedro sugar mill in Nasugbu, Batangas.
Leviste, nevertheless, says that his group, Countryside Investments Holdings Corp., would allot P5 billion for different development programs in the Western Batangas area. Leviste's Countryside and Solar Philippines will be working hand in hand with each other for more renewable energy programs. Recently, the latter had even raised funds from selling its majority stake in SP New Energy Corp. to Meralco PowerGen Corp.
In the face of widening net losses (P12.8 billion in 2023), ABS-CBN , through the LL Holdings Inc., would sell P76.5 million worth of shares or 8.5 percent of ABS-CBN Corporation to Leviste. His mother, Loren, of course, famously used to anchor for the embattled network before her political career.
"ABS-CBN is a great company that has helped countless people over the years," the businessman explained in a release at the time. "I hope there may now be a way for us to be of help, for the benefit of ABS-CBN's shareholders and employees, and the media industry of the Philippines."
