CREC Locks In Supply Deal With Trinasolar

Citicore Renewable Energy Corporation (CREC), a leading player in the Philippine renewable energy sector, has cemented its commitment to advancing the country’s clean energy agenda.

Helena Li, Executive President of Trinasolar, and Oliver Tan, President and CEO of CREC, sign the landmark 2GW solar module supply agreement. The ceremonial signing was witnessed by Alreetz Santander, President of Citicore Construction; Lucia Roderos, CFO of Citicore Group; Todd Li, President of Trinasolar Asia Pacific; and Elva Wang, Trinasolar Group Director for South, Southeast, and Central Asia. I Photo: CREC

On November 11, 2024, CREC signed a milestone agreement with Trinasolar, a global leader in photovoltaic (PV) and energy storage solutions, for a 2-gigawatt (GW) supply of advanced solar modules.

This new contract marks the largest collaboration between the two companies, bolstering CREC’s journey towards its ambitious goal of 5GW renewable energy capacity within five years.

Under the agreement, Trinasolar will supply CREC with its latest Vertex N 720W Series (NEG21C.20) solar modules, leveraging cutting-edge n-type i-TOPCon Advanced cell technology.

This innovative technology, built on a 210mm platform, promises superior efficiency, yielding lower Levelized Cost of Energy (LCOE) and maximizing energy output.

The deployment of these high-power, low-voltage panels will support CREC’s next phase of projects, including initiatives aligned with the Philippine government’s priority renewable energy programs, such as the Green Energy Auction.

Oliver Tan, President and CEO of CREC, expressed his enthusiasm for the expanded partnership: “With our first gigawatt nearing completion, we are paving the way for the next two gigawatts of solar projects through this new supply contract with Trinasolar. Our continuing collaboration – now totaling 3GW – underscores our shared commitment to innovation and efficiency in realizing a First-World Philippines powered by pure renewable energy.”

Echoing this sentiment, Helena Li, Executive President of Trinasolar, emphasized the strategic importance of the partnership: “This 2GW supply contract, our largest in the Philippines to date, reflects the deep trust and shared vision between Trinasolar and Citicore. We are honored to support Citicore’s ambitions with our advanced solar solutions. Together, we are not only meeting the Philippines’ energy needs but also setting new benchmarks for sustainable progress in the region.”

The signing ceremony, held in Manila, was attended by top executives from both companies, including CREC’s CFO Lucia Roderos and Trinasolar’s Asia Pacific President Todd Li.

The deal signals a new chapter in CREC’s aggressive expansion plans and highlights the strong collaboration between a leading Philippine renewable energy developer and a top global solar technology provider.

By harnessing Trinasolar’s industry-leading solar modules, CREC aims to accelerate the development of solar power infrastructure in the Philippines, reinforcing its role in fostering a greener and more sustainable future.