As published on RenewableSnow Sep 25 (Renewables Now) - Philippine property developer MRC Allied Inc has acquired a 15% stake in a 50-MW solar park in Palo, Leyte, it said on Thursday. The company, which is diversifying into the energy sector, has purchased the interest in the Sulu Electric Power and Light Philippines (Sepalco) photovoltaic (PV) plant from one of its shareholders with the option to later boost that to a majority shareholding. Financial details of the deal wer

As published on ManillaBulletin MRC Allied, a property and mining firm that is now diversifying into the energy sector, has acquired a significant stake in its first operating solar project to solidify its entry into the power industry. During the firm’s special stockholders’ meeting, MRC Allied President Gladys Nalda said they have acquired a 15 percent stake in the 50 megawatt Sulu Electric Power and Light Philippines Inc. (Sepalco) Solar Project in Palo, Leyte. Touted as t

As published on Inquirer MRC Allied has acquired for $5 million (about P255 million) a 15-percent stake in a 50-megawatt solar power project in Leyte as the company ramps up moves to shift to the energy business. MRC Allied president Gladys Nalda said in a press briefing Wednesday that the company has an option to increase its interest and that the intention was to get a majority share. “We are still doing some more evaluation related to this, we are [going through] due dilig

As published on MalayaBusinessInsight MRC Allied Inc. has acquired a 15 percent stake in a Leyte solar project, to add to its current portfolio of renewable energy. Gladys Nalda, MRC Allied president, said the company acquired a stake in the 50-megawatt (MW) Sulu Electric Power and Light Philippines Inc. (Sepalco) Solar Project in Palo, Leyte. Touted as the biggest solar project in Eastern Visayas, the Sepalco Solar Project has been operating since 2016. “This will compl

As published on BusinessWorld MRC ALLIED, Inc. is acquiring a 15% stake in the 50-megawatt (MW) Sulu Electric Power and Light Philippines, Inc. (Sepalco) solar power plant project in Palo, Leyte, further boosting its diversification into the energy sector. The listed firm signed a memorandum of understanding to buy a minority stake in the solar power project for $5 million. MRC Allied President and Chief Executive Officer Gladys N. Nalda said they hope to close the deal by th