Casino operator Melco Resorts and Entertainment Ltd states it has contracted another Macau business, Man Io Energy, to install the city’s biggest array of solar panels to supply electricity to two Melco Resorts establishments. Melco Resorts said in a written announcement issued on Wednesday that the system comprised 18,000 photovoltaic panels covering almost 30,000 square metres (329,000 square feet) of rooftop at its City of Dreams and Studio City casino resorts.
The press release said the system would eventually have the capacity to generate nearly 7.7 million kilowatt-hours of electricity a year – the amount 1,500 average households would consume in a year. Using solar power would reduce carbon dioxide emissions into the environment by more than 6,000 tonnes per year – an amount that it would otherwise take 260,000 trees a year to absorb, claimed Melco Resorts.
The announcement quoted Man Io Energy director of business development Sam Liu as saying: “The vast scale of the system has never before been seen in Macau.” Melco Resorts stated the arrangement showed its support for the development of small- and medium-sized enterprises in Macau, and its focus on sustainability. The company claimed it was the first Macau operator to install “on-site renewable energy technology” in one of its casino resorts.
The biggest shareholder in Nasdaq-listed Melco Resorts is gaming magnate Lawrence Ho Yau Lung’s Hong Kong-listed Melco International Development Ltd.
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"This decision [regarding the concession extension] strengthens our capacity to finance the business. We have a whole series of different scenarios we are now working through"
Chief executive of Macau casino operator MGM China Holdings