September 17, 2024 | 12:00am
MANILA, Philippines — Citicore Renewable Energy Corp. (CREC) is ramping up 13 projects with a combined capacity of around 800 megawatts (MW) that were certified by the government as energy projects of national significance.
The certificates of energy projects of national significance (CEPNS) issued by the Department of Energy (DOE) will offer speedy and systematic issuance of permits and clearances to fast-track the implementation of significantly needed energy projects.
CREC president and CEO Oliver Tan, lauded the issuance of the CEPNS as a positive development propelling the country’s shift to renewable energy (RE).
“The recognition of our 13 projects underscores the importance placed by the government in the swift completion of RE projects, which are typically affected by challenges in securing permits and clearances,” Tan said.
The company won the projects during the second round of the DOE’s green energy auction program in July last year.
The projects include the 430-MW alternating current ground mount solar and the 362-MWac onshore wind developments in the provinces of Pangasinan, Bataan, Pampanga, Batangas, Quezon, Camarines Sur, Iloilo and Negros Occidental.
The CEPNS is likewise expected to provide a significant boost to CREC’s ambitious target of delivering 5,000 MW of clean power to the country’s energy mix by 2028.
Under Executive Order 30, energy projects of national significance are major energy projects endorsed by the DOE that are “in consonance with the policy thrusts and specific goals of the Philippine Energy Plan.”
The country wants to increase the share of RE in the energy mix from 22 percent to 35 percent by 2030 and 50 percent by 2040.
“We thank the DOE for acknowledging the criticality of RE to the country’s energy security and urge other government agencies to support our country’s RE targets,” Tan said.
CREC, a pure-play RE platform focused on and committed to the development of clean energy projects, has a portfolio of 10 operating solar assets with a combined installed capacity of 285.1 MW.
It also has a gross installed capacity pipeline of 6,466 MW in solar power generation, 812.5 MW in onshore wind power generation and 3,100 MW in offshore wind generation capacities in various stages of development.
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