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Thursday, April 18, 2024

AC Energy, Citicore break ground on solar project in Pampanga

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AC Energy Corp. and Citicore broke ground on their 72-megawatt (MW) solar farm in Pampanga Thursday morning.

The P2.7-billion Arayat-Mexico solar project would be commissioned by the first quarter of 2022. Once completed and operational, the new solar farm will generate enough power to supply clean energy annually to approximately 45,000 homes.

Officials from both firms said the solar project will be a critical contribution in Luzon, where the energy industry is working double time to ensure a steady power supply.

“One of AC Energy’s successes is our team’s ability to work with different partners and we are delighted to jointly develop this solar project with Citicore. Together, we will help augment the much needed grid capacity during the very tight electricity supply situation as our economy recovers from the effects of the pandemic,” said AC Energy President Eric Francia. Francia, Citicore President Oliver Tan, Mayor Emmanuel M. Alejandrino of the Municipality of Arayat attended the groundbreaking ceremony.

AC Energy has about 1,200 MW of attributable capacity in the Philippines. This is expected to increase with completion of the infusion of AC Energy International, which has about 1,400 MW of attributable capacity.

AC Energy’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 5,000MW of renewables by 2025.

“AC Energy has been constantly growing its renewables investments and continues to play a meaningful role in the green-led recovery,” added Francia.

Both AC Energy and Citicore share the same vision of accelerating renewable energy (RE) development to help the country achieve its target of a 75-percent reduction in greenhouse gas emissions by 2030.

“We are committed to providing our expertise through innovative renewable energy solutions to help accelerate the shift to RE in consumer’s power needs. At Citicore, we’d like to inspire a collective movement towards a net-zero carbon emission future, by harnessing renewable energy sources and empowering communities to deliver positive energy,” said Tan.

Over the next five years, Citicore has lined up a robust pipeline of projects, harnessing diverse and sustainable energy resources, to produce 1,500MW.

Read full article on BusinessMirror

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