President's Message

MRC Joins SEPALCO 50MW Solar Project

October 3, 2017

To our Chairman Carlos P. Gatmaitan, the Honorable Directors, the Management Team of MRC, shareholders, guests, ladies and gentlemen - Good morning!

 

At the onset, I would like to thank you all for coming this morning and for joining us as we hold this Special Shareholder’s Meeting. The last time we were gathered here was during the Annual Shareholder’s Meeting held in June of this year wherein we happily announced our commitment to grow and diversify into the clean and renewable energy business.

 

Today, we come back to ask for your support as we make good on our promise to transition into a 100% energy company. We will change our primary purpose, we will beef up our team, we will raise more funds, we will pursue more projects. We will also continue to implement our “Buy” and “Build” strategy.

 

As we continue to work hard towards being an operating energy company, always keeping in mind our target of at least 1000 MW in five years - I am pleased to announce that we have recently added a 50MW solar project into our portfolio. We are now part of the 50 MW SEPALCO Solar Project in Leyte - the first and biggest operating solar plant in Eastern Visayas. This project is on top of the 100MW solar project in Pampanga and 60MW solar project in Cebu we have on our pipeline for this year - both of which are in the advance stage of pre-development.

 

The SEPALCO solar project will solidify our entry into the solar power industry, not only because it has allowed us to exceed our 200MW target for this year but more importantly we will have an opportunity to take an active part in the management and operation of an operating power plant.

 

Again, I thank all of you for the consistent and unwaivering support you have given me and my team the past few months. Rest assured that we will continue to work hard to achieve our goal of becoming not just a blue chip company but one of the major players in the power industry by 2022.

 

Thank you and have a good day everyone.

 

 

 

ATTY. GLADYS N. NALDA

President and CEO