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Manila Bulletin devider Business devider The Stock Market devider CREC, Sungrow partner on battery storage

CREC, Sungrow partner on battery storage

Published Dec 9, 2024 06:40 am

Citicore Renewable Energy Corporation (CREC) and global photovoltaic (PV) inverter and energy storage system provider Sungrow Power Supply Co., Ltd. have inked a deal for Battery Energy Storage Systems (BESS) to power CREC’s solar projects.

In a disclosure to the Philippine Stock Exchange on Monday, Dec. 9, CREC announced that Sungrow would provide a total of 1.5 gigawatt-hour BESS and support the engineering and construction design to ensure sufficient integration of the battery storage with the solar systems.

This partnership will ensure that electricity from the solar plants or the grid can be stored to achieve power stability, efficiency, and renewable energy (RE) integration.

“This is especially important to renewable energy facilities such as solar power plants, as it addresses solar's intermittency and variability limitations,” CREC stated.

The energy produced by CREC’s solar plants will be stored and utilized at different times through load shifting. This will save energy and allow for its release or use when necessary.

According to the RE firm, Sungrow will provide its “Power Titan” series, which supports both DC and AC coupling and is equipped with features such as a lower Levelized Cost of Electricity (LCOE), higher performance, and manageable operations and maintenance.

Oliver Tan, CREC president and chief executive officer, said that this collaboration would help them provide continuous power generated from their RE projects.

“The immediate development of battery energy storage systems is a necessary step to fulfill the maximum potential of our renewable energy facilities and is crucial to our support for the Department of Energy’s ambitious energy transition plan. With these installed in our solar facilities, we will be able to provide needed power on a mid-merit basis,” he elaborated.

Shawn Shi, vice president of Sungrow, expressed confidence in this partnership, stating that “We are happy to support CREC in its goals to advance energy storage systems in the Philippines. Through our technology, we will be able to help CREC and the Philippines with its power needs.”

CREC added that its first gigawatt of RE capacity is nearing completion, with 10 currently operating solar assets, and onshore and offshore wind projects in various stages of development.

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Citicore Renewable Energy Corporation
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