Citicore Renewable Posts ₱1.15-B Income

Citicore Renewable Energy Corporation (CREC) delivered solid financial and operational growth in 2025, posting consolidated revenue of ₱5.32 billion, up 3% from ₱5.1 billion in 2024, driven by sustained electricity sales totaling ₱4.29 billion.

CREC's growth was attributed to the full-year realization of higher renewal rates among electricity retail customers, demonstrating the strength of the company’s contracted portfolio. (Photo: Citicore Renewable Energy Corporation Facebook)

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This growth was attributed to the full-year realization of higher renewal rates among electricity retail customers, demonstrating the strength of the company’s contracted portfolio.

CREC reported net income after tax of ₱1.15 billion in 2025, a 14% increase from ₱1.0 billion in the previous year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached ₱1.81 billion, up 3% from ₱1.76 billion in 2024, supported by stable operations and disciplined cost management.

The increase in earnings was further supported by a 34% surge in service fees to ₱325 million and a 19% reduction in finance costs following successful refinancing initiatives, underscoring the company’s ability to optimize its capital structure.

Three solar plants—two in Batangas and one in Pampanga—with a combined capacity of 239 MWdc were energized in 2025 and are expected to fully contribute to CREC’s financial performance in 2026.

Looking ahead, six additional solar plants with a combined capacity of 484 MWdc are scheduled to be energized in April 2026, reinforcing the company’s growth trajectory.

These six plants, located in Batangas, Negros Occidental, and Pangasinan, are strategically positioned to help meet the Philippines’ energy demand, especially during the peak summer season.

In a landmark development in the Philippine power industry, CREC in September 2025 commissioned the country’s first baseload solar power plant in the presence of President Ferdinand Marcos Jr. and Department of Energy Secretary Sharon Garin.

The 197-MWp Citicore Solar Batangas 1 facility, equipped with a 320-MWh battery energy storage system, sets a new benchmark for local solar plants.

It is the first to dispatch power beyond daylight hours, demonstrating that solar energy can provide reliable electricity 24/7.

“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,” CREC President and CEO Oliver Tan said.