MRC Allied to step upon solar installation ventures this year

By MYRNA M. VELASCO – February 14, 2020, 10:21 PM
from Manila Bulletin

Listed firm MRC Allied, Inc. will be stepping up on ventures for both rooftop and utility-scale solar installations this year, beefing up its existing portfolio of about 210 megawatts (MW).

“The company wants to maintain its focus on solar rooftop projects, an increasingly growing industry as many businesses now realize the benefits of solar energy and utilizing rooftops for such solar panels,” it noted in a statement to the media.

Beyond rooftop installations, the firm similarly indicated that it will continue to shore up capacity on the ground-mounted solar sphere – as a follow-through to its existing projects, mainly its 100MW solar project in Clark, 50MW in Sulu and 60MW Naga solar venture in Cebu.

“MRC Allied is set to continue expanding its energy portfolio this year, keeping up the momentum set over the last three years,” the company stressed.
As emphasized by MRC Allied President and CEO Augusto Cosio Jr., the company’s new management team “is now implementing the new vision and roadmap consistent with MRC’s focus to become a major RE player.”

He enthused that “all these projects in the pipeline would transform MRC Allied into a bigger, bolder and future-ready company with investments in renewable energy.”

Past its blueprinted energy projects, the company will likewise plunge into new kind of venture this year – sand export business.

The first contract that MRC Allied cornered on this new business is with Chinese firm Shining Star Ningbo Import & Export Co. Ltd. – in which the deal requires the delivery of natural river sand to the latter.

The contract will be for five years; and this will generate revenues of about US$760,000 per shipment for the Filipino firm.

On the targeted RE projects, the company bared last year that it will be allocating ₱1.0 billion in capital expenditures to advance the implementation of programmed projects.