Spectrum COO Patrick Henry T. Panlilio and Riverbanks President Rosario Carlos recently signed an agreement between the two companies involving the installation of a 1.5MWp Solar PV System in Riverbanks Center, Marikina City.
Spectrum, a wholly owned subsidiary of the Manila Electric Company (Meralco), partnered with Riverbanks Development Corporation for a new solar energy project that will support the latter’s push for sustainability.
The deal will see the installation of a 1.5-megawatt peak solar photovoltaic system for Riverbanks Center, an integrated commercial complex in Marikina City.
Targeted to be completed by March 2023, the project is expected to generate approximately 2,000,000 kWh of clean energy every year and will allow Riverbanks to save about P14 million in energy costs annually.
Riverbanks will likewise reduce its carbon footprint by an estimated 1,400 metric tons per annum, which translates to almost 3 million trees planted in 20 years and 5,800,000 kilometers reduced in vehicle travel per year.
Located within a 23-hectare property along A. Bonifacio Avenue, Riverbanks was developed as an eco-friendly and integrated development for business and recreation.
“Spectrum gave us the opportunity to achieve sustainability through solar energy, said Riverbanks President Carlos. “As their partner, we expect to reap huge energy savings while contributing to environmental care. It’s a win-win situation for all parties, including Mother Earth. It’s the best kind of synergy.”
Recognizing the trust accorded by Riverbanks through this pilot project, Spectrum COO Panlilio 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 toward becoming a sustainable business.”