The Arayat-Mexico solar farm, a joint venture between Citicore and AC Energy, reached its full capacity last March 23 and is expected to add much-needed supply to the grid in time for the demand surge during the hot season.
Once fully operational, the 72-megawatt solar farm will produce 105 gigawatt hours of renewable energy annually, enough to power 45,000 households. The solar project has a potential expansion of up to 116 MW. Citicore chief executive officer Oliver Tan said they are preparing to add the solar farm to their REIT vehicle, Citicore REIT.
“As we prepare to infuse this new asset into CREIT to grow its renewable energy asset portfolio in the coming months, our construction team is ready to break ground the Phase 2 by next month, which will increase the total plant capacity to 116 MW upon completion hopefully before the end of the year,” said Tan.
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