In a move to cater to customers seeking clean and sustainable energy sources, COREnergy Inc., the retail energy arm of Vivant Corporation, has inked a significant 20-year power supply agreement with Samal Solar Renewable Energy Corporation (SSREC).
SSREC, a renewable energy developer, is currently engaged in the development of a solar power project with a substantial total capacity of 52MWdc. Situated in Barangay Samal, Bataan, Philippines, this initiative marks a significant stride towards bolstering the region’s renewable energy infrastructure. SSREC is one of the key renewable energy projects under the purview of Tigon Power Corporation, represented during the power supply agreement signing by its President, Mayleen Ting, and Board Chairman, Elon Ting.
The interest in renewable energy sources has been on the rise, particularly among industries looking to future-proof their operations. Solar photovoltaic (PV) technology stands out as one of the most viable renewable energy options, especially in locations like the Philippines.
Vivant Energy Corporation’s President and COO, Emil Andre M. Garcia, stated, “This is another step towards our goal to expand our RE portfolio by 30% by 2030.” He highlighted recent joint ventures, including agreements with Vena Energy and Aboitiz Renewables Inc. to develop a substantial 200MW wind power project in Northern Samar.
Additionally, COREnergy has been actively involved in solar rooftop projects spanning Luzon, the Visayas, and Mindanao. The Vivant group’s corporate social responsibility arm, Vivant Foundation, has also contributed to the electrification of off-grid and remote schools through solar initiatives.
It’s worth noting that SSREC’s commitment to constructing the solar PV power facility and supplying the contracted energy is subject to the condition precedent of a successful financial close to secure debt financing for the project. The project is expected to reach completion in the second quarter of 2025, marking a significant milestone in the Philippines’ journey towards a more sustainable energy future.