Citicore Power, Inc. (CPI) is eyeing to allot an initial 30 megawatts (MW) from its solar portfolio for the Department of Energy’s (DOE) green energy option program (GEOP).
The renewable energy (RE) firm said that the allocation would be available for the GEOP by the third quarter with the expiration of an existing contract.
Citicore said the capacity will come from its solar farms, but did not state which facilities will be providing the allotment. The firm currently operates eight solar farms across the country with an aggregate installed capacity of 163 megawatts (MW) and are fully contracted.
CPI’s retail electricity supplier Citicore Energy Solutions, Inc. was previously named by the DOE as one of the GEOP’s ten participants.
The GEOP allows consumers to source their power supply from an RE supplier. Under the program, customers who consume at least 1,000 kilowatts can contract with retail electricity supplies for the volume, rate, and package they prefer.
CPI also said it is in a strong position to benefit from the GEOP as it has a wide array of RE offerings.
Citicore President Oliver Tan said the company is now heavily engaged in expanding their solar pipeline focusing on an agro-solar-social platform to optimize the use of land for industrial, agricultural, and social development purposes.
He added that they are confident of getting a sufficient share of the market because of their strong and sustainable agro-solar-social platform.
Citicore recently launched its first agro-solar power project in Tarlac City, which combines its turmeric plantation with its solar farm. For just a year, the project jointly yielded around 40,000 kilos of turmeric worth Php1 million and has generated 71MW of solar power.
Back in February, Citicore signed a joint venture contract with AC Energy to develop a solar power plant in Pampanga. The 72MW solar project is scheduled to start operations in November.