Citicore Renewable Energy Corporation (CERC) has secured a USD55 million development and construction loan from Pentagreen Capital to support its solar and battery energy storage system (BESS) portfolio in the Philippines.
The funding will facilitate the development of up to 2 GW of solar and hybrid solar capacity, along with 760 MWh of storage. The loan will initially support the construction of 610 MWp across eight solar projects located in Pangasinan, Pampanga, Batangas, and Negros Occidental. Three of the Batangas sites will feature integrated BESS infrastructure with a cumulative capacity of 760 MWh.