AC ENERGY and Citicore will work in partnership to develop the 72-megawatt (MW) Arayat-Mexico solar farm in Pampanga.
The solar project is a 50-50 joint venture with an estimated development cost of P2.7 billion and is expected to be commissioned by the first quarter of 2022. This will be a critical contribution in Luzon, where the energy industry is working double-time to ensure a steady power supply.
The groundbreaking ceremony on June 24 was attended by officials from AC Energy led by its President and Chief Executive Officer (CEO) Eric Francia and Citicore President Oliver Tan. The event was also graced by the presence of key government officials led by Mayor Emmanuel M. Alejandrino of the Municipality of Arayat and other guests from the local government and the community.
“One of AC Energy’s success is our team’s ability to work with different partners and we are delighted to jointly develop this solar project with Citicore. Together, we will help augment the much-needed grid capacity during the very tight electricity supply situation as our economy recovers from the effects of the pandemic,” said Eric Francia, AC Energy President and CEO.
“AC Energy has been constantly growing its renewables investments and continues to play a meaningful role in the green-led recovery,” added Francia.
For its part, Citicore welcomes the opportunity and partnership to pursue shared goals. “We are grateful to play a significant role in this sustainable infrastructure project, especially with respect to boosting local employment, supporting regional economies, and creating a more stable and reliable power supply. We are committed to providing our expertise through innovative renewable energy solutions to help accelerate the shift to RE in consumer’s power needs,” said Oliver Tan, Citicore president.
“At Citicore, we’d like to inspire a collective movement towards a net-zero carbon emission future, by harnessing renewable energy sources and empowering communities to deliver positive energy. The Arayat-Mexico Solar Farm is another project we will work closely with AC Energy to jointly create a sustainable investment for the communities we serve and all our partner stakeholders,” Tan explained.
Both AC Energy and Citicore share the same vision of accelerating renewable energy
development and help the country achieve its greenhouse gas emissions target of a 75-percent reduction by 2030. Once the 72-MW Arayat-Mexico project is completed and operational, the new solar farm will generate enough power to supply clean energy annually to approximately 45,000 homes. (PR)