Wilcon taps Meralco’s Spectrum to install solar power systems

MSPECTRUM, Inc. is set to install a total of 1,306.46-kilowatt peak of solar photovoltaic (PV) systems in five stores of Wilcon Depot, Inc.

“The solar panels will have a combined annual generation capacity of 1.7 million kilowatt hours of clean energy and are expected to reduce Wilcon’s carbon footprint by 1,222 tons annually. This is equivalent to 2.5 million trees planted,” the companies said in a joint media statement on Tuesday.

Manila Electric Co.’s (Meralco) solar company, also known as Spectrum, will install solar panels with a combined annual generation capacity of 1.7 million kilowatt-hours of clean energy. The panels are expected to cut Wilcon’s carbon footprint by 1,222 tons yearly, which is said to be equivalent to planting 2.5 million trees.

The branches that will soon have solar panels on their roof are in: Antipolo, Rizal; General Trias, Cavite; Tayabas, Quezon; Jaro, Iloilo; and Makato, Aklan.

Once fully installed, the project is expected to allow Wilcon to save P5.15 million in power costs every year. Wilcon has already solarized 39 out of its 74 stores nationwide before the partnership with Spectrum.

“Wilcon Depot has partnered with Spectrum in support of our sustainability journey as they speak quality, character, and excellent service in each project. We are thankful to have such an outstanding organization in enabling Wilcon to achieve our sustainability goals,” Wilcon President and Chief Executive Lorraine Belo-Cincochan said, as quoted by Meralco during the ceremonial launch of the solar project held on March 22 in Antipolo City.

Spectrum President and Chief Executive Ferdinand O. Geluz said Wilcon had the foresight in mitigating the impact of unstable fuel prices and low power supply.

“Not only does [solar power] reduce carbon footprint, it also lessens energy costs which drives operational efficiency,” Mr. Geluz said.

Wilcon reported a 22.8% increase in net income to P692 million in the fourth quarter last year, as the retailer’s gross profit margin improved with the higher contribution from its in-house brands. For the whole 2021, the company posted a 76.8% income jump to P2.56 billion.

Meralco, on the other hand, posted a 9.5% increase in core net income in the fourth quarter last year to P6.55 billion as energy sales volume surged. For full-year 2021, the power distribution giant reported a consolidated core net income of P24.61 billion, 13.4% higher than in 2020.

Meralco shares at the stocks exchange climbed P10.80 or 3.01% to close at P369.80 each on Tuesday. — Marielle C. Lucenio