CESI, Cebu firm ink power supply deal
BY LENIE LECTURA – JULY 20, 2022
from Business Mirror
Photo shows Citicore’s solar farm in Toledo City, Cebu.
Citicore Energy Solutions Inc (CESI), the retail supply arm of Citicore Renewable Energy Corp. (CREC), will supply one megawatt (MW) to Cebu-based water management solutions provider JE Hydro and Bio-Energy Corp. (JEHBEC).
The power supply deal was signed under the government’s Green Energy Option Program (GEOP), which allows end users to source their electricity requirements from preferred renewable energy sources. JEHBEC, a bulk water provider of Metropolitan Cebu Water District (MCWD) in Cebu City and qualified under the GEOP, has opted to tap renewable energy (RE) suppliers, such as CREC’s solar plant in Toledo City, Cebu, to supply their power needs.
Citicore Solar Toledo, the largest solar plant in Visayas, is one of 10 solar facilities operated by CREC, the sponsor company of the country’s first energy-themed REIT, Citicore Energy REIT Corp. (CREIT)
“Our shared vision in delivering more sustainable basic utilities to the Filipino people will help empower more communities and address the gaps in the water and energy supply situation across the country,” said CREC and CREIT President and CEO Oliver Tan.
CREC’s continued expansion and diversification of its customer-base is consistent with its long-term plan to increase renewable energy usage in the country and towards its goal of a net zero carbon future. With the company’s plan of growing its current capacity by five times to 1.5 gigawatts in the next five years, CREC will have a steady pipeline of renewable energy sources available for offtake agreements with existing and new customers.
For its part, JEHBEC welcomed the partnership, which further strengthens its green advocacy and supply chain. “From the design stage of our facilities, we already integrate resource conservation and environmental stewardship in developing studies and solutions for sustainable water systems. We further ensure our sustainability efforts by incorporating RE in our operations,” said JEHBEC Chairman Joffrey Hapitan.
Image credits: www.creit.com.ph
