CESI expands customer base

BY LENIE LECTURA – FEBRUARY 21, 2022
from Business Mirror

Citicore Energy Solutions Inc. (CESI), a licensed retail electricity supplier (RES) and an affiliate of Citicore Renewable Energy Corp. (CREC), said Monday its customer base grew by 2.5 times at end-2021.

This includes two new contracts for the supply of renewable energy to several facilities of a real estate logistics company and two of its subsidiaries in Luzon until 2023.

The logistics services giant company first tapped Citicore in November 2021 to deliver 0.6 MW, followed with a second contract in December the same year to deliver another 4.5 megawatts (MW). This brings to 5.1MW the total renewable energy (RE) capacity delivered to its partner’s facilities, which includes the Tutuban Mall in Manila.

The extended power supply contract signals the start of a longer-term partnership between the company and Citicore to serve the growing needs of the real estate and logistics industry.

“The increasing collaboration with various industry players reflects the growing consciousness to shift to clean and renewable energy among consumers. It is likewise a strong testament to CREC’s capability to provide steady and reliable supply of renewable energy to a diverse set of customers and clients coming from our diverse portfolio, which also provides us with a distinct advantage,” said Oliver Tan, president and CEO of Citicore Energy REIT Corp. Tan said that as the Citicore Group expands its scope in the RE sector, the company is confident of getting a significant share of the market considering its strong and sustainable agro-solar-social platform.

“We do not just offer environmentally-friendly solutions, but agriculturally-beneficial and socially- responsible technologies and methodologies as well, a complete ESG package for the customer and the community,” Tan added.

CREC currently operates eight solar plants across the country with an aggregate installed capacity of 163 MW, all of which are 100 percent contracted. Through CESI, which is qualified under the Department of Energy’s the Green Energy Option Program, CREC can directly supply consumers with renewable energy sources they prefer, such as solar.

Since 2020, CREC’s clientele—both directly through offtake agreements and indirectly through CESI—have steadily increased from 2016 to 2020.

In December last year, CESI said it sealed contracts with Liberty Flour Mills Inc., Provera Nutritional Solutions, Corp., Limchua Development Corp., Succeed Asia Ventures Inc., and Ground 18 Realty Corp.