CREC building two wind turbine parks

Citicore Renewable Energy Corp. (CREC) is expanding its operations beyond solar power through the construction of wind farms with almost 200 megawatts (MW) of capacity.

CREC CEO Oliver Tan said the group, together with its partner Singapore-based Levanta Renewables, would build a 150-MW wind facility in Iloilo province. Another one will be in Camarines Sur, which is expected to have a capacity of 45 MW.

Tan did not provide the estimated project cost for the two projects.

The Camarines Sur wind farm will be completed next year, while the Iloilo project is seen to finish by 2029.

In October 2024, CREC teamed up with Levanta Renewables, backed by global investor Actis, for the construction and operations of onshore wind projects with a total capacity of 375 MW.

Last year, the group said it would invest P9.6 billion to build an 80-MW wind plant in Pangasinan.

With additional solar and battery storage projects, the company is seeking to end 2026 with about three gigawatts. To help finance this, the company is spending around $2 billion.

At present, CREC’s capacity is more than 500 MW.

On the possibility of pursuing offshore wind facilities, Tan said CREC was also looking into it.

However, he said, pushing for this “may not be in the short term.”

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But in early 2023, the CEO said CREC was in discussion with foreign investors to roll out offshore wind projects with 3,000 MW of capacity.

The government has begun equipping the country with the necessary infrastructure to realize its offshore wind goals, with two local ports now being primed to support logistics.

Under the green energy auction program (GEAP) round 5, the government hopes to have 3,300 MW of offshore wind capacity. The delivery is set from 2028 to 2030.

GEAP is a government initiative envisioned to help accelerate renewables expansion in the local market.