Citicore Renewable Energy Corporation (CREC), based in the Philippines, has initiated construction on a 240-MW solar park project located in the coastal province of Pangasinan.
The company marked the start of construction with an official ceremony, highlighting that this project represents its first photovoltaic (PV) venture in Pangasinan and the second project to enter construction in the Philippines this year.
Additionally, CREC has unveiled plans to further expand its presence in the province by developing another solar farm with a capacity of 270 MW and a 150-MW wind park.
The 240-MW solar farm, to be situated in Binalonan municipality, is projected to generate approximately 326 GWh of electricity annually, equivalent to the consumption of 136,000 homes. The capacity will be developed in phases, with the first phase of 168 MW expected to come online by the end of this year. The remaining 72 MW is scheduled to be commissioned by December 2025.
In its pursuit of a stock market listing, CREC aims to expand its portfolio by adding approximately 1 GW of ready-to-build or under-construction solar capacity each year over the next five years. Last month, the company commenced construction on a 69-MWp solar park in Negros Occidental province.
