MANILA, Philippines — MRC Allied Inc. plans to realign its investment strategy in the renewable energy sector to attract institutional investors for its P1 billion share offering within the first half of 2019. The company is targeting institutional investors—such as private equity investors, fund managers, investment companies, investment banks—for its P1 billion share sale to bet on MRC’s transformation into a renewable energy startup. Proceeds will also be used to fund renewable energy project developments, Cosio said. This is part of the company’s solar PV project pipeline of at least four MW, which MRC hopes to complete in the next two years. MRC also executed an agreement for the development of at least 1.1-MW solar PV rooftop system for a mall located in Mindanao.

Source: Philippine Star December 18, 2018 16:37 UTC