The Manila Electic Co. (Meralco) is set to launch its newest solar subsidiary this week that will install solar power rooftop solutions in commercial, industrial and residential sectors.
The new subsidiary will be called Spectrum, Meralco said in a press statement, as its unveiling will signal the company’s entry into the renewable energy space.
“Our vision is to provide clean renewable, affordable and safe energy solutions to Filipinos today and Filipinos of the future,” Spectrum president Jose Rainier Reyes said.
He added that they want to empower commercial, industrial and residential with “optimal and world-class energy solutions through the development of rooftop and utility-scale solar PV (photovoltaic) projects.”
Spectrum’s maiden project has installed a solar program in Robinsons Novaliches Trade Hall. Robinsons Novaliches has contracted 1.875 megawatts (MW) of solar power solution for its power requirements.
Spectrum will offer solar PV systems to customers that will convert sunlight into electricity to power homes and businesses.
These would include monetizing one’s roof, enhancing property value, and reducing utilization of air-conditioning units, as solar panels provide insulation from the heat of solar radiation.
Meralco announced its plans to enter the renewable energy sector last year as chairman Manuel Pangilinan said that they are looking for opportunities in the solar space by establishing a new power generation subsidiary.
The company is also in discussion with developers of RE projects like solar, wind, run – of – river, other hydro projects and gas.