Citicore Renewable Energy Corp., led by its chairman Edgar Saavedra (5th from left) and its president and CEO Oliver Tan (7th from left), breaks ground on a new solar power plant in Silay City. (Photo courtesy of CREC)
Citicore Renewable Energy Corp., or CREC, is building a 68-megawatt, or MW, solar power plant in Negros Occidental targeted to be operational within the year to ensure sufficient supply for its commitment to the government’s Green Energy Auction Program, or GEAP 2.
Located in Barangay Eustaquio Lopez, Silay City, Negros Occidental, Citicore Solar Negros Occidental 2 covers a land area of 69 hectares.
The project, CREC’s second in the province, can be expandable to 100 MW.
CREC president and CEO Oliver Tan said on Tuesday that the company aims to expand its renewable energy projects in Negros Occidental to further uncover the province’s potential as a clean energy hub.
“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 25 MW.
Once the second project is complete, CREC’s facilities in the province will have a combined installed generation capacity of 94 MW.
For CREC chairman Edgar Saavedra, the company’s goal of contributing approximately 1,000 MW of ready-to-build solar energy capacity annually for the next five years supports the government’s energy security targets.
“Our vision is to power a First-World Philippines, and CREC is committed to helping our government achieve its vision for clean energy.
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.
As of December 2023, renewable energy accounted for 29 percent of the country's installed capacity and 22 percent of its gross power generation.
The Department of Energy aims to increase the share of renewable energy in the power generation mix to 35 percent by 2030 and 50 percent by 2040.
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