LBP Resources and Development Corporation (LBRDC), a subsidiary of the Land Bank of the Philippines, has signed a memorandum of understanding (MoU) with the Philippine National Oil Company (PNOC) to install rooftop solar panels in the country.
PNOC plans to sign a memorandum of agreement (MoA) within three months by August 2024, followed by studies on solar plant development. The solar photovoltaic (PV) systems are estimated to have a capacity of one MW to fulfil LBRDC’s 300,000 kWh requirement in Caloocan City.
This partnership is in line with PNOC’s commitment to providing energy solutions to government agencies under its 3-Arrow Strategy.