Citicore Renewable Energy Corporation (CREC), via its wholly owned subsidiary Citicore Wind Energy Corporation (CWEC), is collaborating with Levanta Renewables (Levanta) to advance the development of an onshore wind energy portfolio in the Philippines.
As part of the agreement, Levanta and CREC will form a jointly owned firm to spearhead the development of CREC’s onshore wind projects.
“We are entering the next phase of CREC’s journey to power a brighter future for the Philippines
with the start of our first four onshore wind projects, and there is no better partner to take this step with than Levanta. They bring decades of extensive technical and operational experience to this partnership and to our onshore wind industry,” said CREC President Oliver Tan.
The collaboration will encompass the full spectrum of activities, from development and financing to construction and ongoing operations and maintenance, for Citicore’s four onshore wind projects in Luzon and Visayas.
These projects, totaling 375 megawatts (MW), were awarded offtake agreements under the Department of Energy’s (DOE) Green Energy Auction Program (GEAP) in July 2023.
“We are delighted to partner with CREC on the development of onshore wind projects in the
Philippines. This partnership marks Levanta’s entry into the Philippines wind market, serving as a key step towards its goal of achieving 1.5 GW of operating capacity across Southeast Asia by 2028,” said Levanta CEO Sudhir Nunes.
CREC is expanding its renewable energy portfolio, aiming for 3 GW of wind power capacity over the medium to long term. This initiative aligns with its goal of reaching 5 GW of solar energy by 2028, enhancing its diverse mix of solar, hydro, and wind projects.
There are no comments
Add yours