As published on Business Mirror
MRC Allied Inc. (MRC) will supply power to a mall in Mindanao, it said on Wednesday.
A memorandum of agreement (MOA) for the development, design, construction, and installation of at least 1.1-megawatt (MW) Solar Photovoltaic (PV) rooftop system was signed. MRC did not identify the mall.
Under the MOA, the MRC will be the project developer and owner of the solar facility while a private entity, owning and operating the mall, will be the power off-taker.
The total investment for the solar power project is estimated at P67.4 million. The MOA will become effective upon the issuance of the acceptance certificate by the power off-taker to MRC after successful completion of actual performance testing and interconnection.
The cooperation period of the parties under the MOA shall be for a period of 20 years from the issuance of the acceptance certificate.
MRC said the signing of the MOA 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 already owns a 15-percent stake in Leyte-based solar power firm Sulu Electric Power and Light Philippines (Sepalco).
Just recently, MRC signed a MOA with Edward Marcs Philippines Inc. for the design, supply, delivery, construction, installation, testing and commissioning of its 550 kWP Grid-Tied Solar PV Rooftop Project for two rice milling plants in Northern Luzon.