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Manila Bulletin devider Business devider Trinasolar wins two-gigawatt solar contract with Citicore

Trinasolar wins two-gigawatt solar contract with Citicore

Published Nov 12, 2024 09:39 am

Renewable energy developer Citicore Renewable Energy Corporation (CREC) has signed a two-gigawatt (GW) solar module supply contract with leading smart PV and energy storage solutions provider Trinasolar Co., Ltd.

The agreement, disclosed to the Philippine Stock Exchange on Tuesday, Nov.12, will see Trinasolar supply CREC with high-efficiency Vertex N 720W Series modules for its 2GW renewable energy capacity expansion.

CREC cited the advanced technology of the modules, stating that they offer higher power output and increased energy efficiency, contributing to greater long-term energy generation.

"Trinasolar's Vertex N 720W Series utilizes an industry-leading 210mm platform and n-type i-TOPCon Advanced cell technology, which boasts higher efficiency compared to p-type models," CREC explained. "These high-power, low-voltage panels deliver a better Levelized Cost of Energy (LCOE), maximizing energy efficiency and yield while ensuring long-term reliability."

This partnership supports CREC's commitment to assisting the Philippine government in prioritizing clean energy programs, including those under the Green Energy Auction (GEA). It also aligns with CREC's goal of delivering 5GW of renewable energy capacity over the next five years.

Oliver Tan, CREC president and chief executive officer, emphasized the partnership's role in driving the country's transition to renewable energy.

"With our first gigawatt nearing completion, this new supply contract with Trinasolar paves the way for the next two gigawatts of solar projects," he said. "Our ongoing partnership, now totaling 3GW, underscores our dedication to efficiency and innovation in powering a First-World Philippines with pure renewable energy."

Helena Li, Trinasolar executive president, highlighted the significance of the agreement. "This 2GW supply contract represents our largest in the Philippines, underscoring the strong collaboration and shared vision between our companies," she stated. "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 are not only meeting the Philippines' energy needs but also setting a new benchmark for sustainable progress in the region."

By combining Trinasolar's advanced technology with CREC's expertise in the Philippine solar energy sector, the partnership aims to accelerate renewable energy development and contribute to a more sustainable and renewable energy-powered Philippines.

In addition to its solar initiatives, CREC is dedicated to developing and operating hydro and wind energy projects across the country. In October, its subsidiary Citicore Wind Energy Corp. (CWEC) partnered with Singaporean firm Levanta Renewables to develop four onshore wind projects in Luzon and Visayas.

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