LISTED energy player MRC Allied, Inc. has signed a P200-million deal to design, supply and install solar rooftop systems for the community malls of Xentro Mall Developer, Inc. (XRC).
MRC Allied told the stock exchange on Thursday that it had inked an engineering, procurement, and construction contract with Uni Solar, Inc. for solar photovoltaic (PV) rooftop systems with an initial capacity of at least 4 megawatts (MW) for XRC malls.
The operation and maintenance period for the PV system has been set at 20 years.
MRC Allied will pay at least P200 million under the contract, which shall become effective upon the execution of a final agreement between both parties.
The company said the undertaking will bring it closer to its goal of developing at least 200MW of clean and renewable energy every year.
“We are excited because this partnership with USI and Xentro Mall will solidify the entry of MRC into the solar PV rooftop industry,” MRC Allied Chairman Carlos Gatmaitan said in a statement.
“This will also expand our RE portfolio and bring us closer to our goal of contributing to the clean and renewable capacity of the country,” Gatmaitan added.
Last August, MRC Allied and Uni Solar struck a memorandum of understanding to develop solar rooftop projects in the Philippines. In October, MRC informed the exchange about its discussions with XRC to explore, develop, and install solar PV systems for rooftops in various malls owned by the latter.
XRC builds and operates Xentro Malls across the country. There are about 20 Xentro malls at present and XRC is planning to construct at least five community malls each year.
Uni Solar is engaged in the design, global sourcing, local distribution, manufacturing, sales of solar-powered products and the operation and maintenance of solar PV rooftop systems.
MRC Allied is a property development firm that has recently diversified into the energy sector, particularly renewable energy.