Citicore Renewable Energy Corporation (CREC) celebrated a significant milestone today as it held a ceremonial groundbreaking for its inaugural solar power plant project in the Province of Pangasinan, located north of Metro Manila. This marks CREC’s second groundbreaking this year, underscoring the company’s dedication to advancing sustainable energy initiatives in the Philippines.
The development of a 240 Megawatt (MW) solar power plant is underway in Binalonan, Pangasinan. Upon completion, the facility is projected to generate approximately 326 Gigawatt-hours (GWh) annually, providing electricity for around 136,000 households and potentially reducing carbon emissions by about 228,000 tonnes per year.
“This marks the beginning of renewable energy advancements in the province,” stated Mr. Oliver Tan, President and CEO of CREC. “Our commitment to this development reflects our strong endorsement of the provincial and municipal governments’ vision for the future. Through collaborative partnerships, we aspire to drive growth and prosperity throughout the entire province.”
“Binalonan’s embrace of Citicore’s solar power plant showcases the municipality’s forward-thinking approach and commitment to a greener future,” commented Binalonan Mayor Ramon Ronald Guico IV.
In addition to the Binalonan project, CREC unveiled plans for two other projects in Pangasinan: another 270MW solar power plant to commence alongside the Binalonan project, and a 150MW onshore wind power project.
“As part of the government’s energy transition program, CREC has pledged to deliver five (5) Gigawatts (GW) of clean energy over five (5) years,” affirmed CREC Chairman Edgar Saavedra. “Achieving this goal requires a shared vision and collaborative effort, and we recognize the essential roles of partnerships and stakeholders in realizing this commitment. We extend our gratitude to the province of Pangasinan, the Department of Energy (DOE), local and national government stakeholders, and our host communities for their trust and dedication.”
Aligned with CREC’s commitment, its Pangasinan renewable energy projects, managed through wholly-owned subsidiaries, have secured off-take contracts with the government via the DOE’s Green Energy Auction Program, supporting the administration’s renewable energy targets.
The groundbreaking ceremony was attended by esteemed dignitaries, including Pangasinan Governor Ramon Guico III and Binalonan Mayor Ramon Ronald Guico IV, along with officials from national, provincial, municipal, and local government units.
“Pangasinan and Binalonan express gratitude to Citicore for its contributions,” remarked Pangasinan Governor Ramon Guico III. “There is immense potential in Pangasinan, and we anticipate further collaboration to enhance the lives of our fellow citizens.”
The first phase of the project, with 168.0MW of installed capacity, is slated to commence commercial operations by the end of 2024. Meanwhile, the second phase, comprising 72.0MW of installed capacity, is expected to commence commercial operations in December 2025.
