MRC Allied to expand solar rooftop portfolio
As published on Malaya Business Insight.
Listed firm MRC Allied Inc. is keen on continuing the expansion of its energy portfolio this year with a focus on rooftop solar projects.
In a statement, the company noted the industry is increasingly growing since many businesses now adapt solar energy and utilize their rooftops for the technology.
Last October, MRC Allied’s wholly owned subsidiary Menlo Renewable Energy Corp. inaugurated a 550-kilowatt peak solar PV rooftop project in Northern Luzon which was installed on a rice mill.
The firm was also involved before in the development, design, construction and installation of a solar PV rooftop system for a Mindanao-based mall.
“MRC Allied also plans to tap opportunities on utility scale project developments, continuing existing projects within the umbrella of MRC such as SEPALCO’s 50 MW solar project, the 100 MW SPI Clark Solar Project and the 60 MW Naga solar project,” the company said.
Apart from renewable energy projects, MRC Allied announced plans to explore new legs of business after venturing last year in sand exports, through its sale and purchase agreement with Shining Star Ningbo Import & Export Co. Ltd.
Under the agreement, MRC Allied will deliver bulk natural river sand to Shining Star from a potential seller. With the five-year contract, the company generates a gross revenue of $760,000 per shipment.
The company originally operated as Makilala Rubber Co. but was transformed to a property development firm by its former president Benjamin Bitanga. The company also expanded to mining and renewable energy in recent years.