CITICORE Renewable Energy Corp. (CREC) on Monday said that it had energized the 125 megawatt-peak (MWp) Citicore Solar Pangasinan (CS Pangasinan) project.
It said the plant would be able to generate an estimated 202 gigawatt-hours (GWh) of clean energy, enough to power 90,000–100,000 Filipino homes, and was expected to help cut carbon emissions of nearly 120,000 metric tons annually.
"This development shows how national policy and private-sector execution can work together to create tangible local impact,” company President and CEO Oliver Tan said in a statement.
“With the continued support of the Department of Energy, local government units, and our host communities, we are helping ensure that Pangasinan is not only part of the energy transition, but a beneficiary of it," he added.
Beyond energy generation, Citicore Renewable said it also planned to expand its agro-solar initiative where areas beneath and between solar panels would be used for crop production to help support local farmers’ livelihoods and contribute to food security.
The company further said it had energized more than half of its commitments under the Green Energy Auction Program 2 (GEAP-2), adding it intended to energize the remaining five projects in the coming months.
Citicore Renewable shares dipped P0.07, or 1.44 percent, to close at P4.80 each on Monday.
