Having been awarded the certificate of compliance (COC) by the Energy Regulatory Commission (ERC), the First Toledo Solar Energy Corporation (FTSEC) has switched on its 60 MW solar power plant in the city of Toledo, southwestern Cebu.
“The COC is proof that a power plant complies with all the applicable regulations, deeming it safe to switch on and operate,” said renewable energy company Citicore Power, Inc. (CPI), the mother firm of FTSEC.
In October 2016, the Development Bank of the Philippines (DBP) granted a P4.375 billion loan ($86.5 million) to FTSEC to partially finance the construction of the Toledo solar power plant.
The ERC has also given a regulatory nod to Next Generation Power Technology Corp., a wholly owned subsidiary of CPI, which operates an 18 MW solar power plant within the Freeport Area of Bataan in Mariveles.
Meanwhile, CPI is also working to secure the COC for its third solar power plant of 25 MW located in Silay City, Negros Occidental, which operates under Silay Solar Power, Inc. (SSPI).
In addition to more than 100 MW of solar projects across the country, Citicore Power Inc. is also developing hydropower projects, with several of them recently applied with the Department of Energy, as the company continues to actively pursue its 1,000 MW capacity target of renewable energy capacities.
As the island country’s solar boom continues, the Department of Energy for the Philippines gave its full support earlier this year for a proposed 150 MW Conception Solar Farm, which is expected to meet the entire power needs of the Tarlac province.