May 14, 2019
from Business Mirror
By Cesar M. Perante / Correspondent
SANTIAGO CITY, Isabela—The soon-to-be built 19.7-megawatt (MW) run-of-river hydropower plant of Rio Norte Hydropower Corp. in Echague, Isabela, was recognized by the Department of Energy (DOE) as an Energy Project of National Significance (EPNS), attesting to its effective and timely implementation in line with the country’s drive to energy security and reliability, the Philippine Energy Plan (PEP).
Rio Norte is the hydropower unit under Citicore Renewable Energy Corp. (CREC), a subsidiary of emerging utility holding company Citicore Power Inc. (CPI).
“Attuned to the DOE’s goal of national energy security under the Philippine Energy Plan, Rio Norte upheld its values of accountability and reliability and did its part in ensuring efficient and effective processes, and timely implementation of the project. Such efforts were recognized by the energy department as contributing to the adequate continuous and economic supply of energy, leading to the project being commended as nationally significant,” said Manolo Candelaria, Rio Norte EVP.
Rio Norte’s run-of-river hydropower technology allows for sustainable sourcing of renewable energy through the force of gravity, harnessing the natural flow and elevation drop of a river in a mountainous area to generate electricity.
Aside from Rio Norte, CPI has a total current capacity of 163 MW under CREC, which is generated by its eight existing solar farms located in Bataan, Bulacan, Pampanga, Tarlac City, Negros Occidental, Cebu and South Cotabato.
Having a portfolio of eight solar plants, CPI powers the equivalent of more than 190,000 homes every year and displaces as much as 160,000 metric tons of carbon emissions per year.
In addition, CPI is also working on biomass projects in the pipeline and is still open to more opportunities in any of the RE technologies like solar, wind, biomass and hydropower.
“Going purely green is the main factor that sets us apart from all the other business in the power industry. Conventional power plants are still the major source of energy in the country, but are gradually straining our natural resources and the human health. What we need more right now are clean and responsible energy projects that can deliver in terms of supporting national energy security, and at the same time minimize the impact to our surroundings,” Manolo said.