BATANGAS Rep. Leandro Antonio L. Leviste on Wednesday rejected blame over the multibillion-peso fine imposed by the Energy department on numerous delayed energy projects, saying the notice was not sent to a company he owned.
Mr. Leviste said the Energy department’s P24-billion fine for delayed projects was sent to SP New Energy Corp. (SPNEC) and not Solar Philippines Power Project Holdings, Inc., but stopped short of saying that SPNEC should shoulder it.
“It was not Solar Philippines Power Project Holdings that received the letter about the said fine, but SP New Energy Corp.,” he said in a media briefing in Filipino. “I can categorically say that none of my companies received a letter stating there was a P24-billion penalty, and that it was SPNEC which received the letter.”
An SPNEC representative, reached for comment, reiterated the company is not liable for the Department of Energy’s (DoE) multibillion-peso penalty.
The dispute over liability arose after Energy Secretary Sharon S. Garin last week said Solar Philippines would be fined for delays in delivering nearly 12,000 megawatts (MW) of renewable energy. The DoE terminated 33 of its service contracts, accounting for around 64% of more than 18,000 MW of potential capacity.
Mr. Leviste said he had paid other fines imposed by the DoE. “We already paid other penalties… just recently… about P70 million.” — Kenneth Christiane L. Basilio

BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more

