MRC Allied formalizes entry in RE with maiden solar project

By Lenie Lectura -October 10, 2019
from Business Mirror

MRC Allied Inc. launched last Tuesday its maiden solar-power project, formalizing its entry in the renewable-energy (RE) space.

MRC Allied’s wholly owned subsidiary Menlo Renewable Energy Corp. (MREN) inaugurated its 550kWp Solar PV Rooftop Project in Northern Luzon. Wihtout providing details, the company said it installed its solar-power facility  on a rice mill and is seen helping the agricultural sector in the country by reducing power costs.

According to MRC Allied President Augusto Cosio, the power project will also help rebuild the agriculture sector.

“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.

The accomplishment, he added, 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 boost countryside development.

But more important, this development puts the company a step closer to achieving its goal of becoming a major RE player in the country.

As a renewable-energy player, MRC Allied espouses solar energy because of its benefits to the environment. It also  complements the day and peaking power requirements of the rice mill.

More important, 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.

“In all, MRC Allied seeks to become a major renewable-energy player with the goal of enhancing shareholder value after successfully transitioning into a bigger and better company last year,” it said.

There are more solar rooftop projects in the pipeline. These solar projects are meant “to transform MRC Allied into a bigger, bolder and future-ready company with investments in renewable energy.”