Citicore Renewable Energy Corp. (CREC) renewed its power supply agreement (PSA) with Shell Energy Philippines Inc. (SEPH) for the supply of clean and renewable energy coming from its portfolio of solar power generating plants.
CREC said the new partnership is an extension of the short-term PSA earlier signed between the parties and covers several PSAs that will complement SEPH’s supply stream.
Last year, SEPH and CREC, through Citicore Power, signed a PSA for up to 20 megawatts (MW) worth of energy.
“We are very grateful for this renewed partnership with Shell as we share the same vision of a future powered by clean and renewable energy. This development is a testament to the very high customer satisfaction and excellent service we provide our clients, who continue to trust and believe in us since 2017,” said Oliver Tan, Citicore Power’s president and chief executive officer.
CREC currently operates and maintains eight solar-energy producing assets across the country, generating a combined power of 163 MW.
The company has a pipeline of expanding its renewable energy capacity by an additional 1,500 MW over the next five years. – Jed Macapagal