Pure Energy unit buys majority stake in 3 solar farms

A unit of Pure Energy Holdings Corp. has acquired a majority stake in three solar farms in Central Luzon, enabling the company to diversify into solar energy and ramp up its portfolio.

Pure Energy said on Monday that its subsidiary, Just Solar Corp., signed a share purchase agreement with Solar Powered Agri-Rural Communities Corp. (SPARC) for the acquisition of initially 60 percent ownership in three solar plants in Luzon.