MANILA, Philippines — Citicore Renewable Energy Corp. (CREC) is set to boost the power needs of Clark as it enters into a partnership with Clark Electric Distribution Corp. (CEDC).
CEDC, through its local-retail electricity supplier arm Cogent Energy, secured a 7.5-megawatt (MW) supply from CREC’s Tarlac solar power plants.
CREC said the contract would run until December 2024, or upon commercial operations of its upcoming Bato solar power plant in Palauig, Zambales.
The partnership will then transition into a 10-year power supply contract company once the solar plant is operational, which will provide 30 MW of CEDC local-retail electricity supplier’s electricity needs.
CREC said the partnership is in line with the Department of Energy’s renewable portfolio standards which mandate local-retail electricity suppliers, such as CEDC, to source a portion of their energy needs from eligible renewable energy resources.
“Our partnership with CEDC, among others, is another step in Citicore’s continued commitment to support the government in their renewable energy transition target,” CREC executive vice president Manolo Candelaria said.
CEDC adds to CREC’s growing list of partners using renewable energy.
Other partners include various distribution utilities, leading commercial establishments, and major corporations throughout the country.
CREC is a pure renewable energy developer and operator of solar, run-of-river hydro, and off-shore wind energy platforms.
The company, whose vision is to powering a first-world Philippines with pure renewable energy, has over five gigawatt of project pipelines in varying stages of development.