Citicore Renewable Energy Corp. (CREC) has officially energized a significant new solar power plant in the Philippines, marking a major step forward for the country's clean energy ambitions. The 125-megawatt peak (MWp) Citicore Solar Pangasinan facility, located across the towns of Sta. Barbara and Calasiao, is now feeding electricity into the national grid.
"Our responsibility to deliver clean energy solutions includes not only sustainability, but also resilience," stated Oliver Tan, President and CEO of CREC. "Renewable energy can be thoughtfully designed, integrating stronger materials to mitigate external risks."
The newly activated solar farm is projected to generate enough electricity to power approximately 100,000 households. To safeguard the installation from potential flooding, the project features an innovative elevated solar panel design.
This development is part of the government's Green Energy Auction Program, designed to accelerate the adoption of renewable sources. Securing a win in this competitive bidding process guarantees CREC a long-term contract for the power produced. The Pangasinan project represents one of the company's largest solar facilities in the region and follows the recent activation of a 69-MWp plant in Negros Occidental.
CREC reports that it has now brought more than half of its committed projects under the current government auction program online, with five additional facilities slated for completion in the coming months. The company, led by Edgar Saavedra, holds a diverse portfolio of investments across solar, wind, and hydroelectric projects nationwide.
The firm's financial performance underscores this growth trajectory, closing the previous year with a net income of P1.15 billion, a 14 percent increase, driven largely by power sales.