SINGAPORE — Citicore Renewable Energy Corp. expects a nearly nine-fold increase in its solar installed capacity to about 2.56 gigawatts by 2026, Chief Executive Officer Oliver Tan told Reuters in an interview on Wednesday.
One of the Philippines’ largest solar power producers behind ACEN Corp., Citicore will add 1 GW of capacity by the end of this year, and a further 1.17 GW in 2026, Tan said.The company, in which the renewable energy arm of Indonesia’s state-owned oil producer PT Pertamina bought a 20-percent stake this year, currently has 0.29 GW of installed solar capacity.
Six of Citicore’s solar projects that will come online this year will be south of the capital Manila, while three will be in the country’s north and one of them will supply the demand-heavy Visayas region, Tan said.The company’s expected additions this year alone will boost the Philippines’ installed solar capacity by nearly half from 2024 levels of over 2 GW.
Sees Sharp Rise In Solar Capacity By 2026
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