[historic project, business model EPC]
In March 8, 2016 Renewable energy company Citicore Power inaugurated its 18 MWp solar power project in Bataan, its second solar plant following the start of operations of its 25 MWp plant in Silay, Negros Occidental.
“Citicore is optimistic both the Bataan and Silay solar power plants will be awarded the FIT renewable energy incentive by the government. We have already submitted all the documentary requirements for the availment of the FIT,” according to Citicore Vice President Manolo Candeleria. Citicore Power is a wholly owned subsidiary of Citicore Holdings Investment Inc. and sister company of construction firm Megawide.
The new plant is located in the Freeport Area of Bataan (FAB) in Barangay Alasasin, Mariveles. The plant spans 37 hectares and was done under project company Next Generation Power Technology Corporation (NGPTC). The facility is made up of over 68,500 photovoltaic (PV) modules and is expected to power 22,000 homes connected to the Luzon grid. Construction began in October 2015 by Megawide
Construction, with Conergy serving as the EP contractor. The plant is expected to help avoid 15,000 tons of carbon emissions per year — equivalent to planting 600,000 trees over the life of the facility. Project funding was secured through the Land Bank of the Philippines with Primeiro Partners as financial consultants. “The almost-simultaneous completion of these two power plants shows that Citicore Power is aggressive and serious in completing its renewable energy portfolio. Our vision is to become one of Southeast Asia’s leading RE companies by 2020.” Candelaria said.
Bataan Province officials welcomed the new plant, saying the Citicore-led project created almost 300 jobs for residents in the area. ”We hope that this is the beginning of an influx of the same green investments and the province is proud to partner with companies like Citicore Power,“ said Bataan Governor Albert Garcia.
