MRC Allied, a leading property developer based in the Philippines, has revealed a bold ambition to install and own 1 GW of renewable energy by 2022.
The company says that “now is the perfect time” to expand into the energy sector as demand for power – particularly clean power – increases in the Philippines.
The firm hopes to build and buy its way to that 1 GW figure, and will end 2017 with at least 160 MW of solar PV capacity on its books. This solar figure is comprised of a 100 MW and a 60 MW solar plant, located in Clark Green City, Pampanga, and Nagu City, Cebu.
MRC Allied will pursue the bulk of its clean energy objectives through its subsidiary Menlo Renewable Energy Corp, as well as other affiliates – which include Bases Conversion and Development Authority (BCDA) and Sunray Power.
Funding for MRC Allied’s renewable energy ambitions will be raised via strategic partnerships and other financial mechanism’s, the company’s president Gladys N. Nalda said. “We will aggressively explore all available options to raise capital and finance our RE projects.”