MRC Allied Inc. on Wednesday inaugurated its 550-kilowatt peak (kWp) solar photovoltaic (PV) power plant in Northern Luzon.
In a disclosure to the Philippine Stock Exchange, MRC Allied said the new plant was installed on a rice mill and helps agriculture by reducing power costs and complementing the peaking power requirement of the mill.
MRC said the plan was in line with efforts to expand its solar portfolio and other offerings in the renewable energy sector.
“We have finally kicked off our RE portfolio through this pilot project and we are working hard to produce more through RE subsidiary MREN (Menlo Renewable Energy Corporation),” MRC Allied President Augusto Cosio said.
“I look forward to more [RE] inauguration in the future,” he added.
The beneficiaries of the solar PV project include commercial and industrial companies.
With the new facility, MRC projects electricity costing 30 percent lower for its consumers or even more as a result.