By Lenie Lectura - February 14, 2019
MRC Allied Inc. is pursuing a
550-kilowatt (kW) solar rooftop project in Northern Luzon.
“MRC will be pursuing the said solar
rooftop project through Menlo Renewable Energy Corp. [MREN]. MRC’s wholly owned
subsidiary which is specifically engaged in renewable-energy development,” said
MRC in a disclosure on Wednesday.
In November last year, the
company signed a memorandum of agreement for the development of a 550-kW
solar rooftop project located in Northern Luzon.
A month after, it signed a
memorandum of agreement with Edward Marcs Philippines Inc. for the design,
supply, delivery, construction, installation, testing and commissioning of the
planned 550-kWsolar rooftop project for two rice milling plants in Northern
Luzon. Its investment may cost P34 million.
Company President Augusto M.
Cosio Jr. said in December last year that MRC is targeting to add 42 megawatts
(MW) from solar-power plants to beef up its 2019 portfolio.
He also mentioned that part of the
expansion includes a 12-MW solar plant in Central Luzon. The remaining 30 MW
will be from the proposed acquisition of a solar-power plant in Leyte. The
capacity expansion is part of the MRC’s plan to add 100 MW in its portfolio in
the next two years. The company is set to invest $1 million per megawatt for
this program.
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