<article>Listed property developer <a style="color: #000080;" href="http://www.mrcallied.com">MRC Allied Inc</a> (MRC) is planning to form a company that will engage in the production of renewable energy, specifically solar energy.</article>

Listed property developer <a style="color: #000080;" href="http://www.mrcallied.com">MRC Allied Inc</a> (MRC) is planning to form a company that will engage in the production of renewable energy, specifically solar energy.
&#8220;In line with the present policy of the government to promote and support renewable energy sources, the company finds it timely, to venture into renewable energy projects,&#8221; MRC informed the stock exchange on Tuesday.
Part of MRC&#8217;s plans on the renewable energy venture is to allocate unused portion of its land banks in Naga City(Cebu), for the solar project .
&#8220;The goal is to develop at least 50 MW capacity solar power plant/farm that can either supply electricity to the Visayas grid and, or offer its production to off-takers, such as large power consumers within and around Naga City, Cebu,&#8221; MRC said in its statement.
According to MRC, its management is engaged in talks with several interested local and foreign entities concerning the financing, development and operational aspect of the solar project. The company did not disclose further details.
The solar power project will be presented for approval to the stockholders in MRC&#8217;s upcoming annual stockholders meeting.
Incorporated in 1990, MRC was originally involved in the processing and export of baled natural rubber, and later found a niche in the development of master-planned, integrated residential, commercial, recreational, tourism and industrial areas within a single community or township.
Among its present principal assets are the two land banks in Cebu and Leyte. The former is a 160 hectare industrial estate while the latter is a 700 hectare of raw land.
MRC&#8217;s last traded price was at P0.129 or up by 0.78 per cent to yesterday&#8217;s P0.128.
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Listed Philippine property developer MRC Allied Inc (MRC) is planning to form a company that will engage in the production of renewable energy, specifically solar energy.

PH property developer MRC to form solar energy firm

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PH property developer MRC to form solar energy firm

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