Insights

MANILA, PHILIPPINES – Evolution Data Centres (“EDC”) is pleased to announce the signing of a strategic Memorandum of Understanding (“MOU”) with Citicore Renewable Energy Corporation (“CREC”), a leading renewable energy producer in the Philippines. This collaboration marks a groundbreaking initiative to jointly develop a hyperscale-ready data center facility powered entirely by renewable energy, facilitated through a power purchase agreement (“PPA”) for up to 100MWAC of baseload, 24/7 renewable power including new-to-grid supply sources.

This initiative represents a significant milestone in the Philippines’ journey towards sustainable development, aligning green energy generation with the country’s rapid digital transformation and adoption of artificial intelligence technologies. The Philippine data centre market is undergoing unprecedented growth, with total colocation demand expanding at a CAGR of 30% from 2021 to 2027. By 2027, the market is expected to exceed 135MW of IT load capacity, driven by a burgeoning cloud revolution and the tech-savvy nature of its young population of c.120m people.

“This development underscores Evolution Data Centre’s unwavering commitment to minimizing the carbon intensity of our operations. As cloud and AI deployments continue to scale, access to renewable power at scale is becoming a priority. The Philippines has an attractive outlook for renewable power growth and an open access power market, which positions it well to be a key beneficiary of the next phase of data centre market growth. We are thrilled to extend our partnership with Citicore to jointly provide our customers with 24/7 baseload renewable power, without reliance on RECs and while reducing our customers’ cost of power substantially below what is available in the open market today” said Darren Webb, Co-Founder and Chief Executive Officer of Evolution Data Centres.

“Beyond championing the renewable energy transition through our projects and initiatives, we support the country’s holistic sustainable development which includes a rapid digital transformation. We are thrilled to partner with Evolution Data Centres, as our shared goals will help realize a First-World Philippines not only through its renewable power systems but also through its digital ones,” said CREC President and CEO Oliver Tan.

About Evolution Data Centres:

Evolution Data Centres is a sustainable hyperscale and AI data center developer, focused on underserved markets across Southeast Asia. Our facilities are engineered to support a wide range of rack densities, including those required for the most advanced AI GPUs. In the Philippines, we are proud to partner with Megawide Construction Corp. in our flagship project site located in Gateway, Cavite.

About Citicore Renewable Energy Corporation:

Citicore Renewable Energy Corporation (CREC) is a publicly listed, leading pure-play renewable energy company committed to the development and operation of solar, hydro and wind projects in the Philippines. CREC, directly and through its subsidiaries and joint venture, manages a diversified portfolio of renewable energy generation projects, engages in power project development operations, and participates in retail electricity supply. CREC is also the sponsor of the Philippine’s first and largest renewable energy REIT, Citicore Energy REIT (CREIT). For more information, please visit www.crec.com.ph.