Manila Electric Co. (Meralco) solar power subsidiary MSpectrum is eyeing to secure as much as 30 megawatts (MW) worth of new projects next year.
Ma. Cecilia Domingo, MSpectrum president and chief executive officer, told reporters in a recent media event the company is set to finish the year with a portfolio of 60 MW total capacity.
“We target to serve all available rooftops, new buildings especially, since their infrastructures are already integrated and ready for solar. Usually, for old buildings, there are required retrofitting so it is more challenging and more expensive,” Domingo said.
MSpectrum added the company is expected to achieve revenues of up to P500 million this year compared to 2022’s P300 million.
Domingo also said target clients for next year include offices of other Meralco subsidiaries and structures outside the franchise area.
MSpectrum said 80 to 85 percent of the 60 MW portfolio are projects located within the Meralco franchise area but the company is keen on expanding its footprint to the Visayas and Mindanao.
The company is also keen on tapping industrial and commercial power consumers.
Companies where 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. -Jed Macapagal
