Citicore Power, Inc. expects the installed energy capacity of its renewables subsidiary to reach 238 megawatts (MW) by next year when it has completed a new solar farm in Central Luzon.
In a statement over the weekend, the company said its unit Citicore Renewable Energy Corp. (CREC) expects the construction of a 75-MW solar plant in Arayat and Mexico, Pampanga by November this year.
The P3.3-billion project is a joint venture with AC Energy Philippines, Inc., with the Citicore unit having a 50% economic ownership. The plant will stand on a 58-hectare property and is expected to start generating power in the fourth quarter of 2021.
“Citicore is excited with this partnership, we will continue to invest in the country’s clean energy future,” said Citicore President Oliver Y. Tan, adding that the company had contributed to the reduction of greenhouse gas emissions by more than 600,000 metric tons in the past four years.
He added the company had also provided light to about 4 million households while creating jobs in the communities where it operates.
“[W]e’d like to do more,” he said.
Citicore said the new solar plant is its commitment to help the country achieve “a healthy energy mix through clean and sustainable power sources.”
“When complete, the new solar plant will be added to the eight operating solar plants of Citicore which is located in various provinces in the Philippines that will total up to 238 [MW] capacity,” it said.
The company said it has a robust pipeline of solar projects with a total capacity of 1.5 gigawatts to be rolled out in the next five years.
Filipino-owned Citicore describes its projects as “sustainable ventures,” including power generation from a diversified mix of renewable energy sources.
