Gladys Nalda, MRC president and CEO. Source: MRC Allied Corp.
MRC Allied, a property development firm based in the Philippines, is making a powerful foray into the energy scene, by revealing an ambitious plan to build up a portfolio of 1GW of clean energy by 2022 – with solar PV constituting up to half of that capacity.
The company first began its venture into renewable energy in 2015 but now intends for the transition to take centre stage as it looks to spin off its real estate and mining ventures in full pursuit of clean energy.
MRC Allied plans to invest between P80 billion and P100 billion (US$1.6 billion and US$1.9 billion) for the 1GW portfolio and expects to generate a P3.9 billion (US$77 million) profit as a result.
MRC currently has two solar PV projects in its pipeline, worth P8.8 billion (US$175 million). One project is 100MW and located in Clark Green City in the Clark Freeport Zone, Pampanga. The electricity generated from this utility-scale facility is contracted under a power supply agreement with the Clark Development Corp and will be connected to the National Grid. The second project is 60MW and located in Naga City in Cebu. It will generate electricity either for the Visayas grid or large power consumers.
The Clark and Naga projects are expandable by 40MW and 60MW, respectively, while still in pre-development stage. Both will be operational by 2019, MRC has said.
The company looks to bring its power portfolio to 200MW by the end of the year and raise it by another 200MW each year until it reaches 1,000MW in 2022. MRC will still have to identify additional renewable energy projects to meet its portfolio goal by that year.
Although according to Gladys Nalda, MRC president and CEO, the company is looking into taking over existing solar facilities to expand its solar portfolio to 500MW while also adding wind, geothermal, hydro, ocean power and liquefied natural gas (LNG) to form the remaining 500MW.
Understanding bifacial’s true potential: technology innovation and technical bankability of bifacial
The deployment of bifacial PV technology is growing rapidly. It has proven to be the most effective solution to reduce levelised energy costs (LCOE) and increase the Investment Rate of Return (IRR) of PV systems, offering substantially improved energy yield compared to the use of standard mono-facial modules. Even though the concept is not new, it has been a niche technology for many years with uncertainties in predicting performance and optimizing installations. Today, bifacial technology is becoming mainstream, with capacity available at the multi-gigawatt scale and with corresponding global deployment of project pipelines. Join this webinar, presented by Andrea Viaro, as he discusses the award-winning Swan bifacial module with transparent backsheet from DuPont, its features, benefits and differences vs. standard glass-glass modules. Jinko Solar’s new bifacial technology innovations will also be highlighted, specifically covering profitability in deployment at utility-scale PV power plants. Andrea will be joined by Dr.Lars Podlowski who will give a comprehensive introduction to all aspects of bifacial PV technology, with a special focus on benefits and risks industry buyers and investors should pay attention to.
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability.