Chinese firm to supply Citicore Renewable’s battery energy storage system
Citicore Renewable Energy Corp. sealed a deal with a Chinese company to equip its solar plants across the Philippines with battery energy storage systems (BESS), with a total capacity reaching 1.5 gigawatt hours.
The Edgar Saavedra-led firm said the contract with Sungrow Power Supply Co., Ltd. was signed last week. However, it has yet to disclose the amount of the investment.
Aside from the actual technology, Sungrow would also engage in the engineering and construction design for the successful deployment of BESS.
READ: CREC taps Chinese firm for 2-GW solar modules
“The immediate development of battery energy storage systems is a necessary step to fulfill the maximum potential of our renewable energy facilities and is crucial to our support for the Department of Energy’s ambitious energy transition plan,” CREC president and chief executive officer Oliver Tan said in a statement Monday.
Article continues after this advertisement“With these installed together within our solar facilities, we will be able to provide needed power on a mid-merit basis,” he added.
Article continues after this advertisementIndustry players worldwide, particularly those involved in renewable sources, have been investing in BESS given clean energy sources’ intermittency in producing power.
This technology can store power generated during peak hours. The stored electricity can then be tapped as backup power when the grid additional needs supply.
“We are happy to support CREC in its goals to advance energy storage systems in the Philippines. Through our technology, we will be able to help CREC and the Philippines with its power needs,” said Shawn Shi, Sungrow vice president of PV (photovoltaic) and ESS division.
In November, CREC also tapped Chinese firm Trinasolar for the supply of 2-GW solar modules.
The company targets to expand its renewables portfolio to 5 gigawatts in five years. Currently, its installed capacity is at 285 MW from its 10 solar power facilities.
For the first nine months, CREC said it recorded a 6-percent increase in its bottom line reaching P756 million, with strong power sales driving the growth.
