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.
Spectrum and Riverbanks recently signed the contract that will involve the installation of 1.5-Megawatt peak (MWp) of solar photovoltaic (PV) 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 PhP14 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 twenty 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. 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,” Riverbanks President Rosario Carlos said.
Recognizing the trust accorded by Riverbanks through this pilot project, Spectrum Chief Operating Officer, Patrick Henry T. 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 towards becoming a sustainable business.”
Riverbanks is the newest addition to the roster of international and local companies that engaged Meralco and Spectrum to advance their sustainability goals through clean energy.
Spectrum offers tailor-fit solutions for industrial, commercial, and residential customers through an in-depth understanding of energy consumption behaviors and strategic partnerships with world-class technology partners.