MRC Allied says solar rooftop power to save consumers 30% in electricity bill
Oct 9, 2019 02:14 PM ET
MRC Allied Inc., through its wholly-owned unit Menlo Renewable Energy Corp. (MREN), said Wednesday it its solar rooftop installation stands to save up to 30% in electricity bill.
The company has launched its pilot solar photo-voltaic rooftop system in northern Luzon. The solar project, with a capacity of 550 kilowatt-peak (kWp), was installed in a rice mill and inaugurated on Oct. 8.
In a regulatory filing submitted by corporate secretary Johnston Brusola, MRC Allied said that the solar rooftop project translates to about 30% of savings in the rice mill’s electricity bill.
“This, in turn, would benefit the consumers as it can translate to lower rice prices,” the company said.
The project is seen helping the agricultural sector in the country by reducing power costs.
“In the process, MREN and MRC would be able to help in reducing production cost as well as countryside development,” the company said.
Through the project, the company is helping to rebuild the agriculture sector, MRC Allied president Augusto Cosio said.
MRC Allied said it seeks to become a major player in renewable energy sector. Its goal is to enhance shareholder value after successfully transitioning into a bigger and better company last year.
MREN has another solar rooftop projects in the pipeline.
“These projects in the pipeline would transform MRC Allied into a bigger, bolder and future-ready company with investments in renewable energy,” the company said.
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