In a recent announcement, renewable energy company Citicore Power, Inc. has stated that it is planning to dedicate an initial 30 megawatts (MW) from its currently available solar portfolio for the government's green energy option program (MW GEOP). The firm has clarified that the 30 MW capacity will be provided from its solar farms.
Citicore operates eight solar farms across the globe with an aggregate installed capacity of 163 MW that are fully contracted. The Department of Energy (DoE) earlier named Citicore Power's retail electricity supplying company Citicore Energy Solutions, Inc., one of the 10 entities qualified for the GEOP. In February, Citicore stated that it would allocate capital expenditures for solar and hydro projects.
Citicore owns 100 percent of the Rio Norte Hydro Corp, developing the 19.7-MW run-of-river hydro projects in places like Echaque and Isabela. The company primarily focuses on using sustainable techniques to produce wood biomass products that can be used as alternatives to fuel. The firm further added that it had signed a new deal with Ayala-led AC Energy Corp. that primarily focuses on building a 50-MW photovoltaic solar facility in Arayat and Mexico.