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