Citicore Renewable Energy Corp. (CREC) said Monday it signed a supply and services agreement with China’s Sungrow Power Supply Co., Ltd. (Sungrow), a
Ciiticore Renewable Energy Corp. president and chief executive Oliver Tan and Sungrow Power Supply Co. Ltd. vice president Shawn Shi lead the ceremonial signing for their partnership. CREC awarded 1.5 gigawatt-hours of battery energy storage system to Sungrow.
Citicore Renewable Energy Corp. said Monday it signed a supply and services agreement with China’s Sungrow Power Supply Co., Ltd. , a global PV inverter and energy storage system provider for its battery energy storage system to support its solar projects. Under the agreement, CREC will procure 1.5 gigawatt-hours worth of BESS from Sungrow to be used for CREC’s solar power projects nationwide.Sungrow will also provide support for the engineering and construction design to CREC to ensure the optimal application of the BESS to the latter’s solar facilities. “The immediate development of battery energy storage systems is a necessary step to fulfill the maximum potential of our renewable energy facilities and is crucial to our support for the Department of Energy’s ambitious energy transition plan. With these installed together with in our solar facilities, we will be able to provide needed power on a mid-merit basis,” said CREC president and chief executive Oliver Tan. Sungrow will provide its Power Titan series which is capable of supporting both DC and AC coupling, with its lower leverage cost of electricity , higher performance and easier operations and maintenance. “We are happy to support CREC in its goals to advance energy storage systems in the Philippines. Through our technology, we will be able to help CREC and the Philippines with its power needs,” Sungrow vice president of PV and BESS Shawn Shi said. A BESS is a system which stores the electricity from power plants or the grid for various applications such as grid stability, energy efficiency, and renewable energy integration. This is important to renewable energy facilities such as solar power plants as it fills in solar’s intermittency and variability limitations. With CREC’s first 1 gigawatt of renewable energy capacities nearing completion, its partnership with Sungrow is another step in helping the Philippines achieve energy efficiency and independence. CREC is a publicly listed, leading pure-play renewable energy company committed to the development and operation of solar, hydro and wind projects in the Philippines. CREC, directly and through its subsidiaries and joint venture, manages a diversified portfolio of renewable energy generation projects, engages in power project development operations, and participates in retail electricity supply. It is also the parent of the Philippine’s first and largest renewable energy REIT, Citicore Energy REIT .
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