MRC Allied Inc. said Friday it signed an agreement with China Energy Engineering Group Guangdong Power Engineering Co. LTD. to explore the possibility of building and operating liquefied natural gas projects in the Philippines.
MRC Allied and GPEC also recently signed an agreement on the possibility of developing renewable energy projects in the country.
GPEC is a foreign company based in Guangzhou, Guangdong engaged in the business of exploration, development and construction of energy projects. Under the agreement with MRC Allied, GPEC will conduct a due diligence for one year after the signing of the deal.
“The purpose of the due diligence is to allow GPEC to make a decision to pursue LNG projects with MRC,” the listed company said.
MRC Allied has signed an agreement with China Energy Engineering Corp. Ltd. on the possibility of developing LNG.
CEEC, a company incorporated in Beijing, China, is into exploration, development and construction of energy projects.
“This is likewise part of our aggressive effort to develop at least 1,000 MW of clean and renewable power in the next five years,” said MRC Allied President Gladys Nalda.
“Management plans to create a subsidiary that will focus on the development, construction and operation of all its LNG projects,” she said.
MRC Allied has been pursuing several projects to achieve its 1,000-MW goal in the next five years.
It recently ventured into solar rooftop projects and entered into negotiations to install the requirements of XRC Mall Developer, Inc.
XRC is a domestic corporation engaged in the establishment and operation of Xentro Malls, a community-based mall operating nationwide.
MRC acquired a 15 percent stake in the 50-MW solar project of Sulu Electric Power and Light Philippines Inc. in Leyte.
Sepalco’s solar power plant, which covers 70 hectares in Palo, has 188 solar panels and is connected to the 69-kilovolt transmission line of National Grid Corp. of the Philippines in the area.
MRC is developing a 100-MW solar project in Pampanga and a 60-MW solar project in Cebu, both of which are in the advance stages of pre-development.
