(The Philippine Star) | Updated July 6, 2017 - 12:00am
MANILA, Philippines -
Citicore Power Inc. has clinched five contracts to develop a total 2,300
megawatts (MW) of pumped-storage power plants as it dips further into the
hydropower space.
The Department of
Energy (DOE) has awarded five pumped-storage hydropower service contracts to
Citicore, paving the way for its planned entry into large hydropower projects
in Luzon.
A service contract
authorizes a power generation company to proceed with the pre-development stage
of the proposed projects, which include permitting and various studies.
The contracts have an
aggregate 2,300 MW hydropower capacity from the five plants scattered across
southern Luzon.
In a statement,
Citicore said the projects are in line with its goal of providing green energy,
while protecting the environment and setting up economic opportunities for the
communities where the projects are located.
“Citicore Power saw an
opportunity to develop clean energy from renewable sources that will invigorate
the country’s energy mix. Through the projects, the company aims to provide an
answer to the increasing demand of power in the Philippines,” said Manolo
Candelaria, the company’s executive vice president for commercial and
development operations.
Working closely with
PhilHydro Association, the company is pushing for the development of hydro
power facilities not only to energize homes and buildings, but also to preserve
the environment by reducing carbon emissions from traditional power generation
and to promote inclusive growth by creating economic opportunities to
neighboring communities where it operates.
“We support PhilHydro
Association in its thrust to encourage the usage and development of hydro
sources and we are committed to explore opportunities in this area beneficial
for us and for the communities,” Candelaria said.
Last year, Citicore
announced its target to build 1,000 MW of capacity using the widest range of RE
sources such as solar, biomass, wind and hydropower by 2020.
The company said these
hydropower developments will complement its aim to meet this capacity target.
Apart from hydropower,
it said it is also broadening its horizon by also looking at opportunities in
other types of renewable energy development.
“We remain committed to
explore more projects not just in solar and hydropower, but also in other forms
of renewable energy sources such as wind and biomass,” Candelaria said.
To date, the company
has more than 100 MW of rated capacity from its three existing solar power
plants, namely the 18-MW solar plant in Mariveles, Bataan; the 25-MW solar farm
in Silay City, Negros Occidental; and the 60-MW solar power facility in Toledo
City, Cebu.
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