SAAVEDRA-LED Citicore Renewable Energy Corp. (CREC) has signed a two-gigawatt (GW) supply contract with Chinese company Trina Solar Co., Ltd.
Trina Solar will supply solar panels to CREC to be used for the latter’s rollout of the two-GW capacity, aiming to achieve five GW of renewable energy capacity within five years, the local renewable energy company said in a statement on Tuesday.
“With our first gigawatt nearing completion, we are now paving the way for our next two gigawatts of solar projects through this newest supply contract with Trina Solar,” CREC President and Chief Executive Officer Oliver Y. Tan said.
Mr. Tan said that CREC’s partnership with Trina Solar has totaled three GW.
“This two-GW supply contract, our largest in the Philippines to date, highlights the deep trust and shared vision between Trina Solar and Citicore,” Trina Solar Executive President Helena Li said.
CREC said that Trina Solar’s panels are high power and low voltage, which provide better leverage cost of energy — maximizing energy efficiency and yield, and ensuring long-term reliability.
“By combining Trina Solar’s innovative solar technology with CREC’s extensive expertise in the Philippine solar generation landscape, the continued partnership aims to accelerate the development of solar power and contribute to powering a greener and more sustainable Philippines,” the company said.
In October last year, the Citicore group signed a master services agreement with Trina Solar to purchase 700 megawatts (MW) worth of panels for 2024 delivery.
CREC, directly and through its subsidiaries and joint ventures, manages a diversified portfolio of renewable energy generation projects, power project development operations, and retail electricity supply services.
Currently, it has a combined gross installed capacity of 285 MW from its 10 solar power facilities in the Philippines. — Sheldeen Joy Talavera
