Atfull speed towards CREC's 5GW commitment with this newest supply contract
MANILA, Philippines, Nov. 12, 2024 /PRNewswire/ -- Leading Philippine renewable energy developer Citicore Renewable Energy Corporation (CREC) held a ceremonial signing for a 2-gigawatt (GW) module supply contract with Trinasolar, a global leader in smart PV and energy storage solutions, on 11 November 2024 in Manila – the largest contract between the two companies.
Signing the contract was CREC President and CEO Oliver Tan (3rd from left) and Trinasolar Executive President Helena Li (4th from left). Witnessing the signing is President of Citicore Construction, Inc. Alreetz Santander (2nd from left) together with Citicore Group CFO Lucia Roderos (leftmost); Trinasolar President of Asia Pacific Todd Li (5th from left) together with Trinasolar Group Director for South, Southeast, and Central Asia, Elva Wang (rightmost).
Under the module supply contract, Trinasolar will supply Vertex N 720W Series (NEG21C.20) solar modules to CREC to be used for the latter's roll out of its next 2GW of capacity and part of the company's readiness to implement the Philippines government's priority renewable energy programs including projects under the Green Energy Auction. These are part of CREC's goal to deliver 5GW of renewable energy capacity in 5 years.
The agreement was signed by Helena Li, Executive President of Trinasolar and Oliver Tan, CREC President and CEO. The signing was witnessed by Alreetz Santander, President of Citicore Construction; Lucia Roderos, Citicore Group CFO; Todd Li, President of Trinasolar Asia Pacific; and Elva Wang, Trinasolar Group Director for South, Southeast, and Central Asia.
"With our first gigawatt nearing completion, we are now paving the way for our next two gigawatts of solar projects through this newest supply contract with Trinasolar. Our continuing partnership – now totaling 3GW – underscores our commitment to efficiency and innovation in powering a First-World Philippines with pure renewable energy," said CREC President and CEO Oliver Tan.
"This 2GW supply contract, our largest in the Philippines to date, highlights the deep trust and shared vision between Trinasolar and Citicore. Citicore is an invaluable partner in our mission to advance renewable energy, and we are honored to support their ambitions with our cutting-edge solar solutions. Together, we're not only meeting the Philippines' energy needs but also setting a new benchmark for sustainable progress in the region," said Trinasolar Executive President Helena Li.
Trinasolar's Vertex N 720W Series employs an industry-leading 210mm platform and n-type i-TOPCon Advanced cell technology which has a higher efficiency compared to p-type models. These high power, low voltage panels provide better Leverage Cost of Energy (LCOE) – ultimately maximizing energy efficiency and yield,and ensuring long-term reliability.
By combining Trinasolar's innovative solar technology with CREC's extensive expertise in the Philippine solar generation landscape, the continued partnership aims to accelerate the development of solar power and contribute to powering a greener and more sustainable Philippines.