Citicore Renewable Energy Corporation (Citicore), a subsidiary of Philippine renewable energy company Citicore Power, targets to ramp up its solar farm developments for an aggregate capacity that will reach 1,500 megawatts (MW) in the next five years.
According to the company, it has a robust pipeline of solar projects totaling 1.5 gigawatts that will be rolled out in the next five years although no specific sites and scale of investment have been laid down as of yet. Currently, Citicore has 238MW of installations.
The company’s newest project is the PHP 3.3 billion (USD 68.1 million) 75 MW solar farm development in Pampanga, which is a joint venture with AC Energy of the conglomerate Ayala Group. Citicore said the 58-hectare facility is expected to start its power generation in the fourth quarter of 2021.
(Sources: Manila Bulletin, Manila Standard, The Philippine Star)