AC Energy Corp. and Citicore Power Inc. on Thursday held the groundbreaking ceremony for the 72-megawatt Arayat-Mexico solar farm in Pampanga province that will cost P2 billion.
The 50-50 joint venture project is expected to be commissioned by the first quarter of 2022, providing a critical contribution to the Luzon grid where the energy industry is working double time to ensure a steady power supply.
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 about 45,000 homes.
The groundbreaking ceremony was attended by officials from AC Energy led by president and chief executive Eric Francia and Citicore president Oliver Tan.
“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 Francia.
He said AC Energy was constantly growing its renewable investments and playing a meaningful role in the green-led recovery.
Citicore welcomed 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 Tan.
“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 sustainable investment for the communities we serve and all our partner stakeholders,” Tan said.
AC Energy is the listed energy platform of the Ayala Group. Citicore, through subsidiary Citicore Renewable Energy Corp., is one of the largest solar renewable energy providers with eight solar assets in the country.
