MSPECTRUM, Inc. (Spectrum) is set to energize the Riverbanks mall with its solar panels after signing a contract for the installation of a 1.5-megawatt-peak solar photovoltaic system for Riverbanks Center.
In a media release on Wednesday, Spectrum said that it partnered with Riverbanks Development Corp. for the solar energy project that will support the latter’s push for sustainability.
It said that the project is expected to be completed by March 2023, with an expected power generation of about 2 million kilowatt-hours of clean energy per year. This would translate to about P14 million of savings in energy costs, the company said.
“Providing a clean energy solution specifically designed for Riverbanks’ needs and goals is Spectrum’s mandate as a renewable energy company. This pilot solar rooftop project with Riverbanks is just the beginning, and Spectrum will be with them as they embark on this journey towards becoming a sustainable business,” Spectrum Chief Operating Officer Patrick Henry T. Panlilio said in a media release.
Renewable energy firm Spectrum is a wholly owned subsidiary of Manila Electric Co. (Meralco). It provides tailor-fit solutions for industrial, commercial, and residential customers through an in-depth understanding of energy consumption behavior. It is backed by Meralco’s energy expertise and proven safety track record.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose