PRESS RELEASE

ACEN and Citicore’s solar farm reached full capacity on March 23, 2022. It is expected to add much needed capacity to the grid to meet the increased demand during the hot summer season.

A successful launch for ACEN and Citicore

After a successful power-up, the National Grid Corporation of the Philippines (NGCP) will conduct its own grid compliance tests. These tests should be completed by the second week of April.

Olivier Tan, CEO of Citicore, is pleased with the successful energization of the project:

“The timely energization of this project has once again demonstrated Citicore’s strong track record in greenfield development, engineering, procurement and construction, and plant operations and maintenance, a vertically integrated business model that is unmatched.”

 

Once fully operational, the 72 MW solar park will produce 105 GWh of renewable energy per year. This will provide power to 45,000 homes in the Phillipines, while avoiding approximately 72,000 tons of CO2 emissions per year. The solar project has the potential to expand up to 116 MW.

Mr. Tan further states that this expansion is planned for the coming months:

“As we prepare to inject this new asset into CREIT to expand its portfolio of renewable energy assets in the coming months, our construction team is poised to break ground on Phase 2 by next month, bringing the plant’s total capacity to 116 MW upon completion, hopefully before the end of the year.”

 

Thus, the commissioning of this solar park will undoubtedly support the local demand for electricity. It will also be an indispensable tool in the future for the energy transition objectives.