Publicly-listed MRC Allied Inc. plans to develop at least 4 megawatts (MW) of solar photovoltaic rooftop projects after initially signing up for the construction of solar PV rooftop systems for two rice mills in Northern Luzon.
“We would like to inform the Exchange that MRC Allied executed a memorandum of agreement (MoA) for the development, design, construction, installation, of at least 550 kilowattpeak (kWp) solar photovoltaic (PV) rooftop system for two rice milling plants located in Northern Luzon area,” the company disclosed recently.
Under the MoA, MRC will be the project developer and owner of the solar facility while a private entity, owning and operating two milling plants, will be the power off-taker.
Augusto Cosio Jr., MRC Allied Inc. president and chief executive officer, said construction of the P34 million 550 kWp project is expected to begin this December with completion eyed by May 2019.
The company hopes to complete all 4MW solar PV rooftop projects in the next two years.
“The signing of above MoA is a significant milestone for the company, and will kick off the pilot project of the company in its current solar PV project pipeline. The company aims to develop at least 4MW of solar PV projects within the pilot project area,” Cosio said.