Citicore Renewable Energy Corporation (CREC), a leading renewable energy company in the Philippines, reported that it earned Php 5.32 billion in 2025, according to a press release filed with the Securities and Exchange Commission on March 31, 2026.

Understanding CREC’s Earnings Growth

Think of CREC as a company that builds solar power plants – giant panels that turn sunlight into electricity. In 2025, they made Php 5.32 billion from their business, which is 3% more than the Php 5.1 billion they earned in 2024.

Most of this money – about Php 4.29 billion – came from selling electricity to their customers. The company explained that they were able to charge better prices when renewing contracts with their retail electricity customers (businesses and organizations that buy power from them).

Profits and Costs

CREC’s net income (the actual profit after paying all expenses and taxes) grew by 14% to Php 1.15 billion in 2025, compared to Php 1.0 billion the previous year. This means the company is making more money to keep for itself after all bills are paid.

The company also reported EBITDA of Php 1.81 billion, which is a measure of how much money the business makes before paying interest, taxes, and accounting for wear-and-tear on equipment. This increased by 3% from Php 1.76 billion in 2024.

Two things helped boost profits: service fees jumped by 34% to Php 325 million, and the company managed to reduce the money it pays for borrowing (finance costs) by 19% through refinancing – similar to how families refinance home loans to get better interest rates.

New Solar Plants Coming Online

In 2025, CREC switched on three new solar plants with a combined capacity of 239 MWdc (megawatts direct current – a measure of how much electricity they can produce). Two are located in Batangas and one in Pampanga. These plants are expected to contribute more fully to the company’s earnings in 2026.

Looking ahead, six more solar plants with 484 MWdc combined capacity are scheduled to start operating in April 2026. These include two plants each in Batangas, Negros Occidental, and Pangasinan. The company says these will help meet the Philippines’ electricity needs, especially during the hot summer months when people use more power for air conditioning.

A Historic Achievement: Solar Power at Night

In September 2025, CREC made history by launching the Philippines’ first Baseload Solar Power Plant. President Ferdinand Marcos Jr. and Department of Energy Secretary Sharon Garin attended the event.

The facility, called Citicore Solar Batangas 1, has a 197MWp capacity and includes a 320MWh Battery Energy Storage System. Here’s what makes it special: normally, solar panels only work when the sun is shining. But with large batteries attached, this plant can store extra electricity during the day and release it at night – making it work 24 hours a day, 7 days a week.

“This milestone demonstrates how innovation in renewable energy can redefine the country’s power landscape. We now have definitive proof that solar, when paired with energy storage systems, can provide a truly reliable source of energy that supports national growth,” said CREC President and CEO Oliver Tan, according to the press release.

Strategic Partnerships and Funding

In 2025, CREC strengthened its financial position through important partnerships:

Pertamina New Renewable Energy (PNRE), backed by Indonesia’s government wealth fund called Danantara, invested USD 120 million to buy a 20% stake in CREC. This was PNRE’s first investment in the Philippines.

The company also secured USD 55 million in financing from Pentagreen Capital, a partner since 2023 under Singapore’s FAST-P initiative. This money will be used to build solar projects capable of producing up to 2 gigawatts (GW) of electricity and storing up to 760 megawatt-hours (MWh) in batteries.

About Citicore Renewable Energy Corporation

CREC is listed on the Philippine Stock Exchange under the ticker symbol CREC. As of the filing, the company has 11,160,715,179 common shares outstanding. The company focuses on developing and operating solar, wind, and hydro (water-powered) renewable energy projects across the Philippines.

The company is headquartered at 11F Rockwell Santolan Town Plaza, 276 Col. Bonny Serrano Avenue, San Juan City.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.