Listed MRC Allied Inc. ventured into solar rooftop projects and entered into negotiations to install the solar rooftop systems of XRC Mall Developer Inc.
MRC Allied said in a disclosure to the stock exchange Thursday the discussions focused on the development of solar rooftops in various malls owned by XRC.
XRC is a domestic corporation engaged in the establishment and operation of Xentro Malls, a community-based mall located nationwide.
“This partnership with XRC will be another milestone for MRC as it diversifies into the renewable energy business,” MRC president and chief executive Gladys Nalda said.
“This will be a significant step toward our foray into the solar PV rooftop industry,” she said.
Nalda said the solar rooftop opportunities would help the company achieve its goal of building a renewable energy portfolio of 1,000 megawatts.
“It will also bring us closer to our goal of developing at least 1,000 megawatts of clean and renewable energy in five years,” Nalda said.
MRC recently acquired a 15-percent stake in the 50-MW solar project of Sulu Electric Power and Light Philippines Inc. in Leyte.