Philippines' MRC Allied to add 1 GW of renewables in 5 years

Philippines' MRC Allied to add 1 GW of renewables in 5 years

Philippine property developer MRC Allied Inc has set a target of adding at
least 1,000 MW of renewable energy capacity by 2022.

The company's subsidiary Menlo Renewable Energy Corporation (MREN) will be
pursuing this goal, including the construction of a 100-MW solar park inside
the Clark Green City in Tarlac. The particular project will be developed in
partnership with the Bases Conversion and Development Authority (BCDA) and
Sunray Power Inc.

MRC Allied's president and CEO Gladys N. Nalda told analysts and reporters,
as cited by BusinessWorld Online, that the company has 160 MW of solar
capacity in its pipeline for 2017. This also includes a 60-MW development in
Naga City, Cebu.

Nalda went on to say that the PHP-5-billion (USD 99.7m/EUR 89.3m) solar
project inside the Clark Green City already has a power purchase agreement
(PPA) and a long-term lease with BCDA. She noted that the company will
explore all options to raise finance for the projects, including a share
issue.

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Link to Original Article:
https://renewablesnow.com/news/philippines-mrc-allied-to-add-1-gw-of-renewab
les-in-5-years-572842/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com