Meralco finally launches solar subsidiary

As reported in various news outlets last 10 January, distribution utility Manila Electric Co. (Meralco) has launched its new solar subsidiary, called Spectrum, that will put up solar power rooftop solutions in commercial, industrial and residential. In a press statement, Meralco said Spectrum's vision is to provide clean renewable, affordable and safe energy solutions to Filipinos today and Filipinos of the future. “We want to empower commercial, industrial and residential customers with optimal and world-class energy solutions through the development of rooftop and utility-scale solar PV (photovoltaic) projects,” Spectrum president Jose Rainier Reyes said. For its maiden project, it has installed a solar program at Robinsons Novaliches Trade Hall. Currently, Robinsons Novaliches has contracted 1.875 megawatts (MW) of solar power solution for its own power requirements. Meralco first announced its target to enter the renewable energy sector in 2015, when its chairman Manuel V. Pangilinan said they were looking at opportunities in the solar space by spinning off a new power generation subsidiary. Meralco president Oscar Reyes also said the company is in discussions with developers of RE projects which include solar, wind, run-of-river, other hydro projects and gas.