As published on Manila Times
MRC Allied, Inc. has signed an agreement to design, construct and install a solar photovoltaic (PV) rooftop system that can generate at least 1.1-megawatt (MW) for a shopping mall in Mindanao.
In a disclosure on Wednesday, MRC Allied said the 20-year deal would commence after the mall owner and operator—which was not named—issues an acceptance certificate to the listed company after it completes performance testing and interconnection.
Under the agreement, MRC Allied shall serve as the project developer and owner of the P67.4-million solar facility and the mall owner shall be the power off-taker.
“The signing of” the deal “is another significant milestone for the company and its plan to be a key player in the solar PV industry in the country,” MRC Allied said.
The latest venture is part of the company’s target to add 100 MW of solar power to its portfolio over the next two years as part of its diversification plan.
MRC Allied’s shares added P0.01 or 2.50 percent to end at P0.41 each, surpassing the Philippine Stock Exchange’s 0.50-percent increase on Wednesday.