Citicore Renewable Energy Corp. (CREC) said Wednesday it signed a partnership agreement to supply Clark Electric Distribution Corp. (CEDC)’s local retail electricity arm with 7.5 megawatts of solar power.
CREC said in a statement it would supply the capacity to Cogent Energy from its 16.3-megawatt Tarlac solar power plants.
The contract will run until December 2024, or upon the commercial operations of CREC’s upcoming 63-MW Bato solar power project in Palauig, Zambales.
CREC said that once the Bato solar plant is operational, the partnership will transition into a 10-year power supply contract that will provide 30 MW of the local retail electricity supplier’s needs.
“Our partnership with CEDC, among others, is another step in Citicore’s continued commitment to support the government in their renewable energy transition target,” said CREC executive vice president Manolo Candelaria.
“We’re very excited and honored to have CEDC join our growing list of long-term partners, and we thank CEDC for the trusting Citicore to deliver their energy requirements,” he said.
The partnership is in line with the Department of Energy’s (DOE) Renewable Portfolio Standards (RPS), mandating local retail electricity suppliers such as CEDC to source a portion of their energy needs from renewable energy resources.
This is also anchored on the DOE’s blueprint of a renewable energy share of 35 percent in the generation mix by 2030 and 50 percent by 2040.
“We will help make the DOE aspiration happen through our partnership with Citicore, a well-known renewable energy supplier in the Philippines,” said Cogent Energy officer-in-charge manager Erickson Montes.
He said the long-term partnership would help reach Cogent’s dream of being the best renewable energy supplier not only in Clark Freeport Zone, but also in Central and Northern Luzon.
CEDC adds to CREC’s growing list of partners who believe in powering a greener future using renewable energy. Other partners include various distribution utilities, leading commercial establishments and major corporations throughout the country.