MRC Allied purchases stake in 50MW solar project in Philippines

The PV project is one of the biggest solar installations in the Philippines and has been in operation since 2016. Image: Kai Lehmann / Flickr

MRC Allied, a property and mining firm that is diversifying into the energy market, has acquired a stake in an operational PV project in the Philippines.

MRC Allied President Gladys Nalda announced that the company has acquired a 15% stake in the 50MW Sulu Electric Power and Light Philippines Solar (sepalco) Project in Palo, Leyte.

The PV project is one of the biggest solar installations in the Philippines and has been in operation since 2016. Nalda noted that the company acquired this stake from a shareholder, adding that MRC has the option to boost this number into a majority interest.

Nalda noted: “This will complete MRC Allied’s 200MW target for 2017 and since it’s an operational plant, we shall take an active role in the management of the power plant.”

The installation, which sits on a 70-hectare property, is connected to the existing 69kV transmission line of the National Grid Corporation of the Philippines (NGCP) in the province. The project is designed for a 25-year operating lifespan.

Read Next

July 4, 2022
Shell Overseas Investments and renewable energy company Emerging Power Inc. (EPI) have agreed to jointly develop, own, operate and maintain 1GW of utility-scale solar PV in the Philippines by 2028.
June 27, 2022
Nearly 1.5GW of solar PV in the Philippines has been contracted through the country’s new renewables auction round.
June 20, 2022
Project developer Solar Philippines has submitted offers to contract output from 10GW of PV plants currently under development.
June 13, 2022
An infrastructure company owned by billionaire Enrique Razon is planning to build a solar-plus-storage plant in the Philippines that will feature 2.5 – 3.5GW of PV.
May 9, 2022
Russia’s invasion of Ukraine was blamed for a collapse in Q1 earnings recorded by independent power producer (IPP) Scatec.
April 7, 2022
The Philippines looks set to significantly ramp up its solar deployment, according to Fitch Solutions, which has revised up its forecasts for the country’s non-hydro renewables sector in line with a rapidly-expanding project pipeline and growing regulatory support.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event