Meralco PowerGen Corporation (MGEN) clarified on Sunday, January 11 that it did not acquire shares in the solar company owned by Batangas 1st District Rep. Leandro Leviste that was granted a congressional franchise under Social Energy.

Atty. Christer Gaudiano, MGEN’s Corporate Communications Head, said the company invested in SP New Energy Corporation (SPNEC), not Solar para sa Bayan Corporation (SPBC). He emphasized that the two are separate entities.

"Meralco PowerGen Corporation (MGEN) did not acquire any share in Solar Para Sa Bayan Corporation (SPBC) which was awarded a congressional franchise through Republic Act 11357 to construct, install, and operate microgrids in remote areas," said Gaudiano.

"Moreover, MGEN is not privy to any transactions of SPBC nor to any circumstances that may relate to its compliance with its franchise," he added.

Gaudiano said that although Leviste also founded SPNEC, he had divested from the company prior to his 2025 election.

MGEN reportedly acknowledged that SPBC holds a franchise under Republic Act 11357. However, the company stressed that its investment in SPNEC underwent review by the Securities and Exchange Commission and was not contingent on the existence of any franchise.

The clarification came after Ombudsman Boying Remulla told DZRH that authorities are investigating Leviste’s alleged flipping or sale of his congressional franchise without congressional approval.