Meralco launches solar energy venture | Inquirer Business

Meralco launches solar energy venture

By: - Business News Editor / @daxinq
/ 12:09 AM January 16, 2017

Publicly listed Manila Electric Co.—the country’s largest power distributor—has officially entered the renewable energy business with the launch of its full service solar power subsidiary, Spectrum.

Meralco officially launches its renewable energy subsidiary Spectrum via the unveiling of a solar gallery, showcasing the end-to-end process of generating power via solar technology, and highlighting the benefits of solar adoption in homes and businesses.

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The gallery, on display at the Robinsons Novaliches Trade Hall, also brings forward Spectrum’s set of services and offerings via the Solar Photovoltaic (PV) system that converts sunlight into electricity to power homes and businesses.

In a statement, Meralco said the unveiling of Spectrum signals the firm’s foray into alternative energy sources and other technologies, as part of its commitment to sustainability, as well as an integral part of the diversification of its distribution business.

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“The Meralco brand of expertise in energy puts Spectrum in a unique industry position, as we move toward our mission to be a one-stop shop for renewable energy solutions,” Spectrum president Jose Rainier Reyes said.

Spectrum offers its partners end-to-end technical capabilities with Meralco-trained engineers. Likewise, it is supported by world-class service and product providers. These ensure customers of quality and safety of installed PV systems, while enabling them to work within financing options that fit their budget.

Local retail giant and mall operator Robinsons Malls has partnered with Spectrum for its solar photovoltaic system installed in Robinsons Novaliches, which has a contracted capacity of 1.87 megawatts.

Robinsons Land Corporation president Frederick Go said he supported solar adoption in the company’s thrust toward innovation.

“We are very interested in exploring new technology and are glad that by doing this, we are also able to promote sustainability and social responsibility,” he said.

“Spectrum aims to provide tailor-fit solutions for industrial, commercial, and residential customers through our in-depth understanding of energy consumption behaviors, and our strategic partnerships with world-class technology partners,” Reyes added.

Spectrum advances unique business model opportunities that provide customers with the flexibility to design their partnership in a way that is best suited for a customer’s energy needs. Currently, Spectrum offers three options: outright purchase, lease, or managed services.

During the launch, Spectrum officials highlighted the benefits of adopting solar power as a source of electricity. Aside from reducing total cost of energy and generating power from clean sources, solar power also monetizes the roof of a facility, enhances property value and reduces utilization of air-conditioning units, since solar panels provide insulation from the heat of solar radiation.

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TAGS: Business, Energy, Manila Electric Co., Meralco, solar energy, Spectrum
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