MRC Allied goes into renewable energy, gives agri sector access to solar power

MRC Allied Inc. has set up solar photo-voltaic rooftop system for rice millers in Northern Luzon, launching its renewable energy business.

By giving the agriculture sector access to renewable energy, the company expects production costs to go down as a result of lower cost power.

In a regulatory filing submitted by MRC Allied compliance officer Helen Chico, the company said it launched its pilot solar PV project in Northern Luzon on Wednesday, December 19.

By setting up the facility in rice mills, “we get to contribute to the country side development by giving the agricultural sector access to renewable energy technology solutions ... while enjoying the savings of cheaper cost of power,” MRC Allied president & CEO Augusto Cosio Jr. said.

“In turn, it will lower ... the cost of production which might eventually lead to reduce the price of agricultural products in the future,” Cosio said.

MRC Allied said the plan to put up solar PV rooftop facilities in Northern Luzon envisions an aggregated capacity of 550 kilowatt-peak (kWp).

This will kick off the entry of the company into the solar PV industry, it said.

“As we break ground for our pilot project, we want to inform our investing public that ... MRC is serious in setting foot in the solar PV and renewable energy space ... By implementing these projects, we are improving and giving shareholder value to our stockholders,” Cosio noted.

The company said it will be adding more capacity through solar PV rooftop installations within Northern Luzon. —Ted Cordero/VDS, GMA News