Citicore expands to hydropower

MANILA, Philippines -  Citicore Power Inc. has clinched five contracts to develop a total 2,300 megawatts (MW) of pumped-storage power plants as it dips further into the hydropower space.

The Department of Energy (DOE) has awarded five pumped-storage hydropower service contracts to Citicore, paving the way for its planned entry into large hydropower projects in Luzon.

A service contract authorizes a power generation company to proceed with the pre-development stage of the proposed projects, which include permitting and various studies.

The contracts have an aggregate 2,300 MW hydropower capacity from the five plants scattered across southern Luzon.

In a statement, Citicore said the projects are in line with its goal of providing green energy, while protecting the environment and setting up economic opportunities for the communities where the projects are located.

“Citicore Power saw an opportunity to develop clean energy from renewable sources that will invigorate the country’s energy mix. Through the projects, the company aims to provide an answer to the increasing demand of power in the Philippines,” said Manolo Candelaria, the company’s executive vice president for commercial and development operations.

Working closely with PhilHydro Association, the company is pushing for the development of hydro power facilities not only to energize homes and buildings, but also to preserve the environment by reducing carbon emissions from traditional power generation and to promote inclusive growth by creating economic opportunities to neighboring communities where it operates.

“We support PhilHydro Association in its thrust to encourage the usage and development of hydro sources and we are committed to explore opportunities in this area beneficial for us and for the communities,” Candelaria said.

Last year, Citicore announced its target to build 1,000 MW of capacity using the widest range of RE sources such as solar, biomass, wind and hydropower by 2020.

The company said these hydropower developments will complement its aim to meet this capacity target.

Apart from hydropower, it said it is also broadening its horizon by also looking at opportunities in other types of renewable energy development.

“We remain committed to explore more projects not just in solar and hydropower, but also in other forms of renewable energy sources such as wind and biomass,” Candelaria said.

To date, the company has more than 100 MW of rated capacity from its three existing solar power plants, namely the 18-MW solar plant in Mariveles, Bataan; the 25-MW solar farm in Silay City, Negros Occidental; and the 60-MW solar power facility in Toledo City, Cebu.