MSpectrum Inc., a wholly-owned subsidiary of the Manila Electric Co., expects to complete 50 megawatts of solar rooftop projects by the end of the year.
The company already installed a combined 43 MW of capacity.
“By the end of the year, we are hoping to reach 50 MW at least for the rooftop,” said Spectrum chief operating officer Patrick Henry Panlilio in a briefing.
The company set a minimum target of 20 MW for the solar rooftop market next year, depending on market conditions.
“That’s what we are trying to achieve, at least 20 MW, but we are not limited to that,” Panlilio said.
“A lot of factors are driving the market right now,” he said, citing the impact of foreign exchange on equipment costs which are mostly imported.
He said capital expenditures for a 1-MW solar rooftop increased to a range of P40 million to P45 million from P30 million to P35 million previously.
“That’s what we are trying to achieve, at least 20 MW, but we are not limited to that. We also want to grow in other segments, especially on the EPC front. And we want to expand our operations and maintenance next year,” Panlilio said.
He said Spectrum has a strong potential in the O&M for solar because some installers could not maintain the facility.
Panliliio said the company was also trying to innovate and look at new technologies to get ahead of the competition and capture a more significant market share.
“We want to build capability to serve that market. We found many customers requiring O&M market, so we are expanding that as well,” he said.
Spectrum offers tailor-fit solutions for industrial, commercial and residential customers through an in-depth understanding of energy consumption behaviors and strategic partnerships with world-class technology partners.
The renewable energy company provides services and solutions to help customers reduce their costs while taking part in saving the planet, backed by Meralco’s energy expertise and proven safety track record.
The company’s client base is mainly from the commercial and industrial sectors.
“They have their own sustainability agenda, and we are happy to support them in achieving that,” he said.
Spectrum’s customers include Robinsons Land Corp., Vista Malls, International Rice Research Institute and Toyota Motor Philippine’s Sta. Rosa Plant and Metro Drug.
Spectrum’s most significant single installation to date has been for Philip Morris Fortune Tobacco Corp.’s ground-mounted solar solution in Sto. Tomas, Batangas.