Citicore Renewable Energy Corporation (CREC),

in partnership with San Miguel Global Light and Power Corporation (SMGLP), is set to break ground this month on a 153.5-megawatt (MW) solar power project in Mariveles, Bataan, which is expected to add 76.75 MW to CREC’s clean energy capacity upon its completion by early 2026.

In a report by the Philippine Star, CREC CEO and president Oliver Tan mentioned that the company intends to activate around one gigawatt (GW) of projects by 2025, with a target installed capacity of 1.2 GW by the end of that year. 

This new solar power plant aligned with CREC’s ambitious goal of reaching a total capacity of 5,000 MW in renewable energy. 

The joint venture, with SMGLP owning 51% and CREC holding 49%, is poised to become an equal partne

rship as CREC increases its stake to 50% during the construction phase. 

CREC plans to roll out several green energy initiatives this year, with over Php 35 billion allocated for the development of new clean energy projects. 

Additionally, as part of its commitment to supporting the government’s green energy initiatives, CREC also plans to participate in the government’s fourth green energy auction (GEA-4), with a focus on solar projects integrated with energy storage systems.

As CREC and SMGLP move forward with this project, it’s crucial for the public to stay informed about the growing role of renewable energy in powering the future. These types of investments could transform the energy sector, providing cleaner, more affordable options for consumers across the country.