P3.1-b Negros solar plant eyed for completion this year
By Alena Mae S. Flores – February 20, 2024, 7:15 pm
from manilastandard.net
Citicore Renewable Energy Corp. (CREC) on Tuesday held the ceremonial groundbreaking for its new 69-megawatt (MW) solar power plant in Barangay Eustaquio Lopez, Silay City, Negros Occidental costing P3.1 billion.
CREC president and chief executive Oliver Tan said in a statement Negros Occidental could further develop with the entry of more RE projects, not only addressing urgent environmental concerns but also 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,” said Tan.
Key government stakeholders, including Silay City Mayor Joedith Gallego, local government heads and representatives from national government agencies attended the groundbreaking.
The Citicore Solar Negros Occidental 2 power plant covers a land area of 69-hectares and has a future expansion plan to a total installed capacity of 100 MW. It is CREC’s second power plant in the province.
CREC expects commercial operation by 2024, as part of its deliverables for the government’s Green Energy Auction Program 2 (GEAP-2).
CREC’s first plant in the province, Citicore Solar Negros Occidental, was commissioned in 2016 and has an installed capacity of 25 MW.
Upon completion of the project, CREC’s facilities in the province will have a combined installed generation capacity of 94 MW.
The company set a goal to contribute 1,000 MW of ready-to-build solar energy capacity per year for the next five years in line with the Department of Energy’s (DOE) Philippine Energy Plan which targets to achieve a 35-percent RE share in the power generation mix by 2030 and 50 percent by 2040.
CREC chairman Edgar Saavedra underscored the urgency to build more RE capacities to address growing demand.
“Our vision is to power a First-World Philippines, and CREC is committed to helping our government achieve its vision for clean energy,” said Saavedra.
“With more projects in the pipeline, CREC is committed to working with the DOE and local governments as we transition to more renewable sources of energy for the Visayas and our country,” Saavedra said.
