MRC Allied Inc. and Uni Solar Inc. (Uni Solar) will work together to look at opportunities in developing solar-rooftop projects.
The listed firm said on Wednesday that it signed a memorandum of understanding (MoU) with Uni Solar. The MOU signing confirms that both parties have an interest in developing solar photovoltaic (PV) rooftop projects in the Philippines as identified by Uni Solar.
“The purpose of the due diligence is to allow MRC to make a decision to pursue solar photo voltaic rooftop projects with Uni Solar,” MRC said.
Under the MOU, MRC will conduct a due diligence for one year. The parties are bound by the terms and confidentiality, while the MOU is in force and within one year thereafter.
Uni Solar is a company based in the Philippines, which is engaged in the business of design, global sourcing, local distribution, manufacturing and sale of quality and environment-friendly solar-power products, especially in solar pv for rooftops.
MRC Allied is diversifying into the energy sector, particularly renewable energy (RE).
Its primary purpose now shall be to develop, design, construct, operate, maintain, buy, acquire, sell, import and export renewable and clean energy equipment, systems, power plants and technologies that produce electricity from renewable and clean energy resources such as, but not limited to, solar, wind, hydro, geothermal, biomass, liquefied natural gas and other clean and RE sources.
Last month it signed another MOU with China Energy Engineering Group Guangdong Power Engineering Co., LTD. (GPEC).
Under the MOU, GPEC will conduct a due diligence for a period of one year from MOU signing. The purpose of the due diligence is to allow GPEC to make a decision to pursue RE projects with MRC. Company President Gladys Nalda has said the company plans to put up at least 1,000 megawatts (MW) of RE in the next five years.
“In line with our vision to be one of the major players in the Philippine power industry, we plan to develop at least 1,000 megawatts of clean and renewable energy by 2022,” she said.
For this year MRC Allied has an aggregate of 160 MW solar capacity in the pipeline. These are in Clark Green City, Pampanga, and in Naga City, Cebu, with a target installed capacity of 100 MW and 60 MW, respectively.
Former Energy Secretary Carlos Jericho Petilla was earlier nominated as one of the board members of MRC Allied.