Citicore and Trinasolar Sign 2GW Solar Module Supply Deal to Boost Philippines’ Renewable Energy

Citicore Renewable Energy Corporation (CREC), a leading renewable energy developer in the Philippines, and global PV technology leader Trinasolar signed a major contract on November 11, 2024, for the supply of 2 gigawatts (GW) of solar modules. This agreement, valued as the largest between the two firms to date, was signed at a ceremonial event in Manila and marks a significant step towards CREC’s ambitious goal of delivering 5GW of renewable energy capacity over the next five years.

As per the contract, Trinasolar will supply its advanced Vertex N 720W Series (NEG21C.20) solar modules for CREC’s upcoming 2GW solar capacity expansion. The project aligns with the Philippine government’s priority renewable energy initiatives, including projects under the Green Energy Auction, which are essential for the nation’s transition to renewable energy sources.

CREC President and CEO Oliver Tan, who signed the agreement alongside Trinasolar Executive President Helena Li, emphasized the strategic value of this collaboration, stating, “With our first gigawatt nearing completion, this new contract with Trinasolar paves the way for our next two gigawatts of solar projects. This partnership reinforces our commitment to a First-World Philippines powered by clean, renewable energy.”

Helena Li echoed this sentiment, highlighting the shared vision of Trinasolar and CREC. “This 2GW contract, our largest in the Philippines, reflects the trust and common goals between Trinasolar and Citicore. Together, we’re setting new benchmarks for sustainable progress in the region,” she stated.

Witnessing the contract signing were Alreetz Santander, President of Citicore Construction, Inc.; Lucia Roderos, Citicore Group CFO; Todd Li, President of Trinasolar Asia Pacific; and Elva Wang, Trinasolar Group Director for South, Southeast, and Central Asia.

Trinasolar’s Vertex N 720W Series, which utilizes a cutting-edge 210mm platform with n-type i-TOPCon Advanced cell technology, promises higher efficiency than conventional p-type models. These panels are designed to optimize the Leverage Cost of Energy (LCOE), enhancing both energy yield and long-term reliability – factors crucial for CREC’s large-scale energy plans in the Philippines.

This collaboration aims to leverage Trinasolar’s technology and CREC’s expertise in the Philippine solar market, accelerating solar power development and supporting the nation’s green energy objectives.