MRC ALLIED, Inc. is pursuing talks with XRC Mall Developer, Inc. to put up solar rooftop systems in various community malls owned by the mall operator, the listed company told the stock exchange on Thursday.
In the disclosure, Gladys N. Nalda, MRC Allied president and chief executive officer, said the “discussions and negotiations” with XRC are aimed “to explore, develop and install” solar photovoltaic systems in the latter’s malls.
XRC is the operator of Xentro Malls, a chain of community malls around the country.
On Thursday, shares in MRC Allied rose by 1.61% to P0.315 each.
The talks with XRC follow the signing earlier this month of a solar energy service contract between the Department of Energy and Sunray Power, Inc. (SPI), a company 75% owned by MRC Allied subsidiary Menlo Renewable Energy Corp.
The service contract calls for the development of a 100-megawatt (MW) solar project in Clark Green City in Bamban town in Tarlac.
In the DoE-issued service contract, the government authorizes SPI to explore, develop, and utilize solar energy resources within the designated area for 25 years.
Also on Oct. 3, MRC Allied said it had formally acquired a 15% stake in a solar farm in Leyte for $5 million, marking its shift to the energy business by buying an existing renewable energy plant.
Ms. Nalda previously said the company was targeting to put up 1,000 MW of renewable energy capacity by 2022. For this year, MRC Allied has 160-MW of solar capacity in the pipeline – 100 MW in Clark Green City, Pampanga and 60 MW in Naga City, Cebu. – Victor V. Saulon
