By Danessa Rivera (The
Philippine Star) | Updated July 28, 2017 - 12:00am
MANILA, Philippines - MRC Allied
Inc. is looking at the potential of developing renewable energy projects in the
country with a Chinese firm as partner.
The company disclosed yesterday it
executed a memorandum of understanding (MOU) with China Energy Engineering Group
Guangdong Power Engineering Co. LTD. (GPEC).
“The purpose of the MOU is to
confirm that both parties have an interest in developing renewable energy
projects in the Philippines as identified by MRC Allied Inc.,” it said.
GPEC is a foreign company based in
Guangzhou, China. It is engaged in the business of exploration, development and
construction of energy projects.
Under the MOU, GPEC will conduct a
due diligence for a period of one year to decide if it will pursue renewable
energy projects with MRC.
Originally a listed real estate
company with a diverse portfolio in property and mining, MRC Allied announced
in May its shift in focus to pursue investments in the power sector,
particularly renewable energy and other clean energy developments under its new
president and CEO Gladys Nalda.
The company has charted a
1,000-megawatt capacity target by 2022 from clean energy developments,
entailing an investment of roughly P80 billion-P100 billion.
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