Citicore Renewable Energy Corporation (CREC)—a leading renewable energy developer in the Philippines recently held a ceremonial signing in Manila for a 2-gigawatt (GW) module supply contract with Trinasolar, a global leader in smart PV and energy storage solutions. This agreement marks the largest contract between the two companies.
Trinasolar to Supply 720W Modules for CREC’s 2GW Expansion
Under a module supply agreement, Trinasolar will provide its Vertex N 720W Series (NEG21C.20) solar modules to CREC, supporting the company’s deployment of its upcoming 2GW capacity expansion. This initiative aligns with CREC's commitment to advancing the Philippines government’s priority renewable energy initiatives, including projects within the Green Energy Auction program. These efforts are part of CREC’s broader objective to deliver 5GW of renewable energy capacity within the next five years.
"With our first gigawatt nearing completion, we are now paving the way for our next two gigawatts of solar projects through this newest solar module supply contract with Trinasolar. Our continuing partnership – now totaling 3GW – underscores our commitment to efficiency and innovation in powering a First-World Philippines with pure renewable energy," said CREC President and CEO Oliver Tan.
"This 2GW module supply contract, our largest in the Philippines to date, highlights the deep trust and shared vision between Trinasolar and Citicore. Citicore is an invaluable partner in our mission to advance renewable energy, and we are honored to support their ambitions with our cutting-edge solar solutions. Together, we're not only meeting the Philippines' energy needs but also setting a new benchmark for sustainable progress in the region," said Trinasolar Executive President Helena Li.
Trinasolar and CREC to Drive Solar Power Growth in the Philippines
Trinasolar's Vertex N 720W Series utilizes the advanced 210mm platform and n-type i-TOPCon cell technology, offering higher efficiency than p-type models. These high-power, low-voltage solar modules optimize the Levelized Cost of Energy (LCOE), enhancing energy efficiency, yield and long-term reliability.
By pairing Trinasolar's cutting-edge solar technology with CREC's deep expertise in the Philippine solar sector, their continued partnership is set to drive the rapid growth of solar power thereby supporting the transition to a greener and more sustainable Philippines.
Philippines Sets Ambitious Renewable Energy Goals
The Philippines' Department of Energy has set a goal to source 35% of its electricity from renewable energy by 2030, increasing to 50% by 2040. In August, the Board of Investments (BOI), an agency under the Department of Trade and Industry fast-tracked the approval of a 3.5GW/4.5GWh solar-plus-storage project in the provinces of Bulacan and Nueva Ecija.