MREN Inaugurates Their Solar Rooftop Project in Northern Luzon
MRC Allied Inc. (PSE: MRC), through its wholly owned subsidiary Menlo Renewable Energy Corp. (MREN), has inaugurated its pilot project for its Solar PV Portfolio, the 550kWp Solar PV Rooftop Project in Northern Luzon today, October 8, 2019.
The move expands the listed renewable energy company’s solar portfolio and puts it a step closer in its goal of becoming a major RE player in the country. The 550kWp Solar PV Rooftop project is installed on a Rice Mill and is seen helping the agricultural sector in the country by reducing power costs.
This is MREN and MRC’s way of making RE Technology accessible to other industries such as the agricultural sector. In the process, MREN and MRC would be able to help in reducing production cost as well as country side development.
As a renewable energy player, MRC Allied espouses solar energy because of its benefits to the environment. Solar PV Project has its own benefits especially for the commercial and industrial companies such as rice mills. It complements the day and peaking power requirements of the rice mill.
More importantly, it translates to about 30 percent of savings in the rice mill’s electricity bill. This, in turn, would benefit the consumers as it can translate to lower rice prices. MRC Allied president Augusto Cosio said through the project, the company is not only marking a milestone but helping rebuild the agriculture sector as well.
“Today we are not only making history in MREN but for MRC as well. We have finally kicked off our RE portfolio through this pilot project and we are working hard to produce more through our RE subsidiary, MREN. It’s been a great first year for me with MRC and working with one of our subsidiaries MREN because we were able to realize this pilot project in less than a year. Kudos to the Business Development and Operations Team for making it happen and I will look forward to more inauguration in the future,” Cosio said in his message during the inauguration.