The new projects, spanning Isabela, Batangas, Quezon, and Negros Occidental, include both solar and hybrid renewable-plus-storage facilities.
CREC president and CEO Oliver Tan said the win reflects the company’s push to help the country meet its clean energy targets.
“Bidding in the green energy auction signifies our commitment to deliver more renewable energy projects in line with DOE’s 50 precent in 2050,” Tan said.
“This is no easy task for any energy player, but we accept this challenge as part of our full support to the government’s clean energy goals,” he added.
The company had earlier won 916 megawatts of capacity under GEAP 2 in 2023, part of its goal to complete one gigawatt of new projects each year until 2028.
In September, CREC also strengthened its financing base with a $55 million loan from Pentagreen Capital to accelerate construction of upcoming projects.
—Edited by Miguel R. Camus
