Citicore Power seeking DOE okay for 1,000-MW goal for RE projects

By Lenie Lectura – June 28, 2017

from Business Mirror

CITICORE Power Inc. (CPI) is actively pursuing hydropower investments to meet its 1,000 megawatt (MW) capacity target of renewable energy (RE).

The company, currently an active member of the PhilHydro Association Inc., said on Wednesday it has applied for several hydropower projects with the Department of Energy (DOE).

CPI will also have its maiden participation in the upcoming second Philippine Hydro Summit and Exhibition on July 12 and 13 at the Makati Diamond Residences, which is spearheaded by PhilHydro Association and the DOE.

“Given that the Philippines is an archipelago offering large bodies of water, we believe in the enormous potential of natural hydropower sources to produce clean electricity that can energize thousands up to millions of homes across the country,” said Manolo Candelaria, CPI executive vice president for Commercial and Development Operations.

Working closely with PhilHydro Association, the company is pushing for the development of hydropower facilities not only to energize homes and buildings, but also to preserve the environment by reducing carbon emissions from traditional power generation and to promote inclusive growth by creating economic opportunities to communities where it operates. “We support PhilHydro Association in its thrust to encourage the use and development of hydro sources and we are committed to explore opportunities in this area beneficial for us and for the communities,” Candelaria said.

PhilHydro Association was founded to promote the development of hydropower projects in the Philippines. The group has over 50 members who are existing and potential developers of hydropower projects in the country. To date, the company has more than 100 MW of rated capacity from its three existing solar-power plants: The 18-MW solar plant in Mariveles, Bataan; the 25-MW solar farm in Silay City, Negros Occidental; and the 60-MW solar-power facility in Toledo City, Cebu.