Philippines based Citicore Renewable Energy Corporation (CREC) has started the construction of the largest solar power plant in the company's portfolio with 680 MW capacity in Batangas, Philippines, to be delivered in 2 phases.
Local media cited a company statement to report that the project in Tuy region will provide Luzon power grid with 'needed capacity' when it comes online by 2024. The project is coming up on a 5 million sq. mtr. land parcel.
CREC expects to invest PHP 21.6 billion ($397 million) on realizing the project with the help of Citicore Construction Inc and Megawide Construction Corp. During the construction phase, the facility is expected to create around 2,400 jobs.
CREC President and CEO Oliver Tan reportedly said the company plans to invest in and develop more solar energy plants to expand its renewable energy capacity. CREC says it has upsized the company's solar energy project pipeline by more than 3 times, 'from 1.5 GW to 5 GW in the next 5 years'.
Investment in battery energy storage systems (BESS) is also on the cards for CREC as it targets to extend the life of solar energy beyond daytime and offer more competitive alternatives to end users.
In February 2021, Solar Philippines proposed to build 2 GW solar PV project with 6,000 MWh BESS capacity along with 600 MW diesel back up in Batangas (see 2 GW Solar & Storage Facility Proposed In Philippines).