Philippine-based Citicore Renewable Energy Corporation (CREC) on Wednesday said it has launched the construction of a 69-MWp solar park in its home country’s Negros Occidental province.
A groundbreaking ceremony attended by local and national government officials was held in Barangay Eustaquio Lopez, Silay City, according to a LinkedIn post.
The Citicore Solar Negros Occidental 2 park will occupy 69 ha (170.5 acres) of land and will be built under the Philippine government’s Green Energy Auction Programme (GEAP) 2. Its commissioning is scheduled to take place this year. Potentially, the plant could be expanded to reach a total capacity of 100 MWp, the developer said.
The project will mark the construction of CREC’s second photovoltaic (PV) park in Negros Occidental. The first one, called 25-MWp Citicore Solar Negros Occidental, has been generating electricity since 2016.
CREC, which is in the process of kicking off an initial public offering (IPO) to raise cash for its pipeline, aims to add roughly 1 GW of ready-to-build or under-construction solar capacity to its portfolio each year during the next five years. The plan is aligned with the company’s ambitions to achieve a 35% renewables share in its power generation mix by 2030 and 50% by 2040.
