Citicore turns sod on 680-MW solar project in the Philippines
- Philippine renewable resource company Citicore Renewable Energy Corporation (CREC) has begun the construction of a 680-MW solar park project in Luzon, the Philippines' largest as well as most populous island.
The company broke ground on what is the biggest project in its portfolio on Tuesday. The required investment is approximated at PHP 21.6 billion (USD 397.1 m/EUR 365.7 m).
To be located in the municipality of Tuy, Batangas province, the solar (PV) park will be set up in 2 stages over the next two years, covering 5 million square metres (53.8 m square feet) of land. It is prepared to begin industrial procedures in 2024.
Neighborhood infrastructure services provider Megawide Construction Corp and also Citicore Construction Inc will certainly take care of the plant's construction and appointing. The construction phase is expected to open at the very least 2,400 jobs, most of which will certainly be sourced locally.
"CREC is committed to invest as well as create even more solar plants in the future and assistance expand the country's complete renewable resource ability," stated CREC's president as well as CEO Oliver Tan. He highlighted that the business has increased its solar project pipeline by over 3 times, to 5 GW from 1.5 GW formerly.