CITICORE Renewable Energy Corp. (CREC) on Monday reported a net income of P1.15 billion for 2025, up 14 percent from the P1.01 billion booked in 2024 and said to have been driven by higher power sales, stable operations and disciplined cost management.
In its annual report, the company said revenues rose to P5.32 billion from P5.10 billion on sustained electricity sales as a result of higher renewal rates of retail electricity customers.
CREC said that last year, it switched on the 197 megawatt-peak Citicore Solar Batangas 1 plant supported by an installed 320 megawatt-hour battery energy storage system.
Three solar plants with a combined capacity of 239 megawatt direct current (MWdc) were also energized and are expected to fully contribute to CREC’s financial performance this year.
The company said it also signed strategic international and local partnerships in 2025, which helped enhance its capital access and project execution.
One key partnership was with Pertamina New Renewable Energy, which invested $120 million for a 20 percent interest in the company through a share subscription agreement signed in June.
The company also secured a $55 million financing from Pentagreen Capital to roll out solar projects with up to 2 gigawatts of generation capacity and up to 760 megawatt-hours of battery storage.
Looking ahead, Citicore Renewable said that six additional solar plants with a combined capacity of 484 MWdc were scheduled to be energized next month.
It said that the six plants — two in Batangas, two in Negros Occidental and two in Pangasinan — were strategically positioned to help respond to the Philippines’ energy demand, especially during the hot and dry season.
The company’s shares on Monday shed P0.01, or 0.22 percent, to close at P4.49 apiece.
