Citicore Renewable to proceed with 69 MW of PV in Philippines

Citicore Renewable Energy Corp. (CREC) is building a 69 MW solar plant – its second project on the island of Negros in the Philippines. CREC President and CEO Oliver Tan says that the plant will power around 70,000 households.

Image: Mariana Proença, Unsplash

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CREC is constructing its second solar power farm in Silay City, in the province of Negros Occidental in the Philippines.

The 69 MW plant, with a project cost of PHP 3 billion ($53.9 million), is expected to start commercial operations within the year.

CREC President and CEO Oliver Tan said that once operational, the plant’s installed capacity will be able to supply power to around 70,000 households.

“With the completion of Citicore Solar Negros Occidental 2, 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,” he said.

CREC commissioned Silay City's first solar project, a 25 MW array, in 2016. The company has set a goal of developing approximately 1 GW of ready-to-build solar energy capacity per year over the next five years.

CREC Chairman Edgar Saavedra said the company is committed to helping the Philippines to achieve its clean energy targets.

“With more projects in the pipeline, CREC is committed to working with the [Department of Energy] and the local governments as we transition to more renewable energy sources for the Visayas and for our country,” said Saavedra.

The government has set a target of a 35% renewable energy share in the power generation mix by 2030 and 50% by 2040. This year, the authorities have already approved a new 65 MW ground-mounted solar power plant in the eastern part of the country and a 4 GW solar park in the north.

Earlier this month, the Philippine Stock Exchange approved CREC’s application to publicly list shares.

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