72-MW solar farm in Pampanga up and running | Inquirer Business
ACEN-Citicore JV

72-MW solar farm in Pampanga up and running

The 72-megawatt Arayat-Mexico Solar Farm of the Ayala Group and Citicore Power Inc. in Pampanga is now operational, providing additional power supply to Luzon, especially during the summer season.

The P2.9-billion solar farm, a joint venture of ACEN Corp. and Citicore Renewable Energy Corp. (CREC) was completed in less than a year after it broke ground in June 2021.

Acen, in a disclosure, said they are now working on the 44-MW second phase of the solar project, increasing the facility’s capacity to 116 MW. It is expected to be commissioned by the second quarter of next year.

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The solar farm generates 105 gigawatt-hours of renewable energy annually, equivalent to supplying electricity to approximately 45,000 homes.

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“This is a critical addition to the grid, where the energy industry is taking significant steps to ensure a reliable power supply,” ACEN said.

The solar project was funded through a debt replacement scheme and will be refinanced with at least 40 percent equity and up to 60 percent debt. INQ

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TAGS: Business, solar

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