Philippine's Citicore inks deal for 2 GW of Trina Solar modules

Philippine-based Citicore Renewable Energy Corporation (CREC) said today it has struck a deal to buy 2 GW of solar photovoltaic (PV) modules from China’s Trina Solar Co Ltd (SHA:688599).

The contract, the value of which was not disclosed, calls for Trina to deliver its Vertex N 720W Series (NEG21C.20) solar modules using n-type i-TOPCon cell technology. The hardware will be installed at Citicore’s future projects that will be executed as part of the company’s goal to deliver 5 GW of renewable energy capacity in five years.

CREC, which is pursuing a bourse listing to raise cash for its pipeline, aims to add roughly 1 GW of ready-to-build or under-construction solar capacity to its portfolio each year during the next five years. The plan is aligned with the company’s ambitions to achieve a 35% renewables share in its power generation mix by 2030 and 50% by 2040.

“With our first gigawatt nearing completion, we are now paving the way for our next two gigawatts of solar projects through this newest supply contract with Trinasolar,” said CREC’s president and CEO Oliver Tan.

Choose your newsletter by Renewables Now. Join for free!