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MRC to pursue solar-rooftop deal with XRC

As published on BusinessMirror

MRC Allied Inc. on Thursday said it intends to provide solar-rooftop panels for XRC Mall Developer Inc. (XRC).

It told the stock exchange that “the board authorized Management to pursue discussions and negotiations with XRC in order to explore, develop and install solar photovoltaic [PV] systems for rooftops in various malls owned by the latter.”

No further details were provided.

XRC is a corporation engaged in the establishment and operation of Xentro Malls nationwide. Xentro Malls are community malls in cities and municipalities around the Philippines, having leaders in the retail and food industry as its major tenants.

MRC is diversifying into an energy company. It previously disclosed that it will now be able “to develop, design, construct, operate, maintain, buy, acquire, sell, import and export renewable and clean-energy equipment, systems, power plants and technologies that produce electricity from renewable and clean-energy resources such as, but not limited to solar, wind, hydro, geothermal, biomass, liquefied natural gas, and other clean and renewable energy sources.”

As a diversified company, MRC has also been strengthening its structure. It has taken in former Energy Secretary Carlos Jericho L. Petilla as one of its board members.

Just recently, MRC said Sunray Power Inc. (SPI) will develop a 100-megawatt (MW) solar-power project in Tarlac.

SPI is 75-percent owned by Menlo Renewable Energy Corp., a wholly owned subsidiary of MRC.

A solar-energy service contract for the development of the said power project within the Clark Green City in the municipality of Bamban, Tarlac, has been signed between SPI and the Department of Energy.

Last month the company said it was eyeing to acquire a significant stake in six more renewable-energy developers, following the successful acquisition of a 15-percent stake in a 50-MW solar project in Leyte.

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