{"id":330378,"date":"2024-11-14T00:46:25","date_gmt":"2024-11-13T16:46:25","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330378"},"modified":"2024-11-14T00:46:26","modified_gmt":"2024-11-13T16:46:26","slug":"trade-the-news-crec-signs-2-gw-power-supply-contract-with-chinese-firm","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-crec-signs-2-gw-power-supply-contract-with-chinese-firm\/","title":{"rendered":"Trade the News: CREC signs 2-GW power supply contract with Chinese firm"},"content":{"rendered":"\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Potential Impact of this News<\/strong><\/td><td><strong>POSITIVE on the stock price<\/strong><\/td><\/tr><tr><td><strong>Company<\/strong><\/td><td>Citicore Renewable Energy Corp.<\/td><\/tr><tr><td><strong>Stock Code<\/strong><\/td><td>CREC<\/td><\/tr><tr><td><strong>Long-term Recommendation on the Stock<\/strong><\/td><td>Hold<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 3.26<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Citicore Renewable Energy Corp. (CREC) has signed a two-gigawatt (GW) supply contract with Chinese company Trina Solar Co., Ltd.<\/p>\n\n\n\n<p>Trina Solar will supply solar panels to CREC to be used for the latter\u2019s rollout of the two-GW capacity, aiming to achieve five GW of renewable energy capacity within five years, the local renewable energy company said in a statement on Tuesday.<\/p>\n\n\n\n<p>\u201cWith 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 Trina Solar,\u201d CREC President and Chief Executive Officer Oliver Y. Tan said.<\/p>\n\n\n\n<p>Mr. Tan said that CREC\u2019s partnership with Trina Solar has totaled three GW.<\/p>\n\n\n\n<p>\u201cThis two-GW supply contract, our largest in the Philippines to date, highlights the deep trust and shared vision between Trina Solar and Citicore,\u201d Trina Solar Executive President Helena Li said.<\/p>\n\n\n\n<p>CREC said that Trina Solar\u2019s panels are high power and low voltage, which provide better leverage cost of energy \u2014 maximizing energy efficiency and yield, and ensuring long-term reliability.<\/p>\n\n\n\n<p>\u201cBy combining Trina Solar\u2019s innovative solar technology with CREC\u2019s extensive expertise in the Philippine solar generation landscape, the continued partnership aims to accelerate the development of solar power and contribute to powering a greener and more sustainable Philippines,\u201d the company said.<\/p>\n\n\n\n<p>In October last year, the Citicore group signed a master services agreement with Trina Solar to purchase 700 megawatts (MW) worth of panels for 2024 delivery.<\/p>\n\n\n\n<p>CREC, directly and through its subsidiaries and joint ventures, manages a diversified portfolio of renewable energy generation projects, power project development operations, and retail electricity supply services.<\/p>\n\n\n\n<p><em>(News Source: <a href=\"https:\/\/www.bworldonline.com\/corporate\/2024\/11\/13\/634509\/citicore-chinese-firm-trina-sign-solar-panel-deal\/\">BusinessWorld<\/a>)<\/em><\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330378","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330378"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330378\/revisions"}],"predecessor-version":[{"id":330380,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330378\/revisions\/330380"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}