MRC Allied Inc., a listed property developer diversifying into energy, said on Monday that it was acquiring a 15-percent stake in Sulu Electric Power and Light Philippines, Inc. (Sepalco) for $5 million or P254.66 million.
Sepalco operates a 50-megawatt plant located in a 70-hectare property in Palo, Leyte, which has a total of 188 solar panels and is connected to the existing 69-kilovolt transmission line of the National Grid Corp. of the Philippines (NGCP) in the province.
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