CREC to produce 1GW per year
Renewable energy company Citicore Renewable Energy Corporation has set a goal of contributing 1GW of solar energy capacity per year for the next five years to help the Department of Energy meet its targets of achieving a 35 percent RE share in the power generation mix by 2030 and 50 percent by 2040.
“Our vision is to power a First-World Philippines, and CREC is committed to helping our government achieve its vision for clean energy,” CREC chairman Edgar Saavedra said.
In line with its goal, CREC broke ground for its new 69 megawatt-peak (gross installed capacity) solar power plant project in Barangay Eustaquio Lopez, Silay City, Negros Occidental, its second in the province, on 20 February.
Silay City Mayor Joedith Gallego, local government heads, and representatives from national government agencies joined CREC officials in the ceremonial groundbreaking for the plant named Citicore Solar Negros Occidental 2.
CSNO2 covers a land area of 69 hectares, and has a future expansion plan to a total gross installed capacity of 100MWp. Commercial operation is expected by 2024, as part of CREC’s deliverables for the government’s Green Energy
Auction Program 2.
Just as the Philippines is seen as a “bright spot” in Southeast Asia for RE, CREC President and CEO Oliver Tan believes Negros Occidental can further develop with the entry of more RE projects, addressing urgent environmental concerns and bringing substantial socio-economic gains while enhancing energy access, security and self-sufficiency.
“We support Negros Occidental, its steps towards the renewable energy transition. With the completion of this project, we will not only be able to augment the power generation needs of Negros Occidental and the Visayas grid, but also contribute to the growth of the province,” Tan said.
The company’s first plant in the province, Citicore Solar Negros Occidental, was commissioned in 2016 and has an installed capacity of 25MWp. Upon completion of the project, CREC’s facilities in the province will have a combined installed generation capacity of 94MWp.
The Citicore Solar Negros Occidental 2 power plant is expected to be operational this year