By Danessa Rivera (The
Philippine Star) | Updated June 2, 2016 - 12:00am
MANILA, Philippines – Manila
Electric Co. (Meralco) is eyeing to build a solar power portfolio of 20
megawatts (MW) in the first year of operations of its solar subsidiary.
The power distributor is firming up
its foray into the renewable energy (RE) sector through subsidiary M-Spectrum,
which will pursue solar projects on an opportunistic basis, Meralco SVP and
head for customer retail services and corporate communications Alfredo Panlilio
said.
He said M-Spectrum will be Meralco’s
main vehicle for solar rooftop and utility-scale investments.
“We are still building our team… but
initially, commercial and industrial would be our focus and residential would
be more of opportunistic in terms of engagements,” said Panlilio, who
temporarily heads M-Spectrum.
The company official said the solar
unit is currently assessing a number of opportunities in the solar sector.
“We do have a pipeline of accounts
that we are looking at. We are looking for the first year of operations… this
year up to next year of about 20 MW [of capacity] as a target,” Panlilio said.
Meralco is actively pursuing RE
investments, among other technologies, as part of its diversification from the
distribution business.
“We are serious in getting into
renewable and we know that this is something that will be a different business
model for Meralco,” Panlilio said.
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