Citicore Renewable Energy Corp. (CREC) looks to boost the deployment of its projects with the recent opening of its central warehouse in Dasmarinas, Cavite.
It said the 13,000 square meter warehouse is strategically located at the First Cavite Industrial Estate and help accelerate the roll-out of 1,000-megawatt (MW) of solar capacity per annum.
“This facility will serve as the backbone of our operations, enabling us to efficiently manage and distribute resources to our solar plant facilities across Luzon,” said Manolo Candelaria, CREC executive vice president.
He added the central warehouse encompasses efficiencies ensuring the seamless coordination and supply of materials, equipment and resources required for the operation and maintenance of solar plants.
The centralized approach will also enhance its efficiency, allowing for streamlined logistics and faster project completion that ensures optimal generation and timely delivery of projects.
CREC now has end-to-end capability in providing energy solutions from land acquisition, pre-development, engineering, design and construction and plant operations and maintenance.
Earlier, CREC set aside $800 million (P43.58 billion) as capital expenditure this year in its bid to add 1,000 MW to its renewable energy portfolio.
CREC currently has installed capacity of 241 MW from solar power projects.
The company also said that of the 1,000 MW, around 600 MW are projects in Batangas and the remaining 400 MW are power plants in Pampanga and an expansion of an existing project in Tarlac.
The company looks to build 5,000 MW worth of projects over five years and raise its renewable energy portfolio to 1,250 MW by early 2024.
CREC’s power facilities include solar farms with capacity of 60 MW in Toledo, Cebu; 25 MW in Silay, Negros Occidental; 22 MW in Clark, Pampanga; 18 MW in Mariveles, Bataan; and 15 MW in San Ildefonso, Bulacan, among others.
