CITICORE Renewable Energy Corp. (CREC) announced it will supply 7.5 megawatts (MW) to Cogent Energy, the local retail electricity supplier (LRES) arm of Clark Electric Distribution Corp. (CEDC).
Under the partnership, the supply contract will run until December 2024, or upon commercial operations of CREC’s upcoming Bato solar power plant in Palauig, Zambales. Once the solar power facility is operational, the partnership will transition into a 10-year power supply contract which will provide 30MW of CEDC LRES’ electricity needs.
The partnership is in line with the Department of Energy’s (DOE) Renewable Portfolio Standards (RPS), mandating distribution utilities to source a portion of their energy needs from eligible renewable energy resources. This is also anchored on the DOE’s blueprint of a renewable energy share of 35 percent 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.
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.
“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 T. Candelaria.