Daily Tribune
CREC president and CEO Oliver Tan (fourth from left) and Sungrow VP Shawn Shi (fifth from left) signed the battery storage agreement, with CREC chairman Edgar Saavedra (third from left), Citicore Construction President Alreetz Santander (second from left), and Citicore Group CFO Lucia Roderos (left), Sungrow general manager for APAC Luis Xu (third from right), Sungrow head of SEA Michael Ruan (second from right) and Sungrow Account manager Tina Qin (right).
Photograph courtesy of CREC.
Citicore Renewable Energy Corp. (CREC) is advancing the development of its Battery Energy Storage Systems (BESS) through a newly signed supply and services agreement with Sungrow Power Supply Co. Ltd. (Sungrow), a Chinese energy technology company.
Under the agreement, CREC will procure 1.5 gigawatt-hours (GWh) of BESS from Sungrow to enhance its solar power projects across the Philippines.
Additionally, Sungrow will provide engineering and construction design support to ensure the efficient integration of the BESS with CREC’s solar facilities.
Power on a mid-merit basis
“The immediate development of battery energy storage systems is a necessary step to fulfill the maximum potential of our renewable energy facilities and is crucial to our support for the Department of Energy’s ambitious energy transition plan. With these installed together with our solar facilities, we will be able to provide needed power on a mid-merit basis,” CREC president and CEO Oliver Tan said on Monday.
Sungrow will supply its Power Titan series, which features both DC and AC coupling capabilities, lower Levelized Cost of Electricity (LCOE), superior performance, and simplified operations and maintenance.
“We are happy to support CREC in its goals to advance energy storage systems in the Philippines. Through our technology, we will be able to help CREC and the Philippines with its power needs,” stated Sungrow vice president for PV and ESS Shawn Shi.
A BESS stores electricity generated from power plants or the grid for various applications, including grid stability, energy efficiency and renewable energy integration. For solar power plants, BESS addresses the intermittency and variability challenges of solar energy.
Load shifting
In CREC’s case, the BESS will utilize load shifting, enabling the storage of energy produced by its solar plants and making it available for use at different times of the day.
With its first gigawatt of renewable energy capacity nearing completion, CREC said the new partnership with Sungrow is crucial in supporting its ambition of becoming the local leader in renewable energy development.
