Manila Electric Co. (Meralco) solar subsidiary MSpectrum eyes securing as much as 30 megawatts (MW) of new projects in 2024.
Ma. Cecilia Domingo, MSpectrum president and chief executive officer, told reporters the solar power unit rounds this year with a portfolio of 60 MW.
“We target to serve all available rooftops. New buildings, especially, since the infrastructures are integrated and ready for solar. Usually the old buildings require retrofitting and are more challenging and more expensive on parts,” Domingo said.
MSpectrum, she added, is seen generating revenue of up to P500 million this year from last year’s P300 million.
Domingo also targets next year the offices of other Meralco subsidiaries and exploit opportunities that are even outside the Meralco franchise area.
According to Domingo, around 80 to 85 percent of their 60 MW portfolio relate to projects inside the Meralco franchise area but that even then the subsidiary unit is keen on expanding its footprint in Visayas and Mindanao and on tapping industrial and commercial power consumers.
Companies that Spectrum has partnered with for commercial and industrial solar power installations include Philip Morris, Toyota, Ajinomoto, Vista Malls, Robinsons, Pilipinas Shell, S&R, Puregold, PLDT and Afficionado, among others.
