The Energy Regulatory Commission granted a retail electricity license to Citicore Energy Solutions Inc., a unit of renewable energy company Citicore Power Inc., allowing the company to offer a cleaner alternative source of electricity to bulk consumers.
Citicore Energy is active in talking to potential customers after securing an RES license that enables it to provide electricity directly to contestable customers under the retail competition and open access program.
Under open access, contestable customers or large users in Luzon and Visayas with an average monthly peak demand of one megawatt have the option to seek their own power suppliers.
“Being a new face in the industry, CESI is confident of being at par with its counterparts in the next few years given its technical expertise, competitive tariff rates, and broad range of customer-friendly services,” the company said.
Citicore Energy also aims to educate consumers on the open access scheme and the importance of switching to cleaner renewable energy sources and reducing carbon footprint in the country.
Citicore operates three large-scale solar power plants in the provinces of Bataan, Negros Occidental and Cebu. These three facilities already account over a hundred megawatts delivered to the national grid.
Citicore plans to build 500 megawatts of solar capacity overseas as part of its expansion program. The planned solar projects are in Japan, Malaysia, Indonesia, Thailand, Vietnam and Myanmar.
The solar expansion forms part of the 1,000-MW renewable energy target capacity that Citicore plans to install by 2020.
Citicore signed a partnership deal with Huawei Technologies Company Ltd. for its overseas solar business development.
The company plans to build a capacity of 1,000 MW using the widest range of RE sources, such as solar, biomass, wind and hydropower.
Huawei is a Shenzen-based global company involved in power and telecommunications equipment and services. It is also the largest telecommunications equipment manufacturer in the world.