Listed SPC Power Corp. said Friday it plans to venture into the renewable energy sector through solar, hydro and battery storage projects.
“Our company has been looking seriously at projects in the solar and battery areas of the renewable space. In fact, we’ve closely reviewed a couple this year, and we will be making investment in that,” SPC Power chairman Alfredo Henares said during the company’s annual stockholders’ meeting.
“Our efforts in solar still have to yield some good results, but it’s an area we are looking deeply into and we hope to have something in there by late this year or early next year,” Henares said.
The company’s power generation portfolio consists of coal and diesel-fired power plants.
“RE is very much on our radar and in fact we’ve evaluated three projects this year—one in solar and the one in battery is progressing, and hopefully we will have a favorable conclusion to that investment this year,” Henares said.