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Citicore Renewable Energy Corp. (Philippines)

Main Activities: Electric Power Generation, Transmission and Distribution
Full name: Citicore Renewable Energy Corp. Profile Updated: July 09, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2023 Available in: English Download a sample report

Citicore Renewable Energy Corporation (CREC) was incorporated on May 15, 2018. CREC was organized as Citicore Power Inc.'s (CPI) vehicle for its renewable energy investments to pursue greenfield and brownfield projects, and manage the operation of power generation projects for solar, hydro and wind technologies in the Philippines. CREC's parent company, CPI, is a direct subsidiary of Citicore Holdings Investment, Inc., the parent company of Megawide Construction Corporation.

CREC is also engaged in the supply of retail electricity to contestable customers through Citicore Energy Solutions, Inc., and is one of the sponsors of Citicore Energy REIT Corporation (CREIT), which is a real estate investment trust focused on income-generating renewable energy assets. Owing to CREC's streamlined capabilities in project development, CREC has grown to be the power producer with second largest solar portfolio in the Philippines in terms of installed capacity as of December 31, 2022.

CREC has ten (10) operating solar assets with a combined installed capacity of 285.1 MW, and a gross installed capacity pipeline of 6,466 MW in solar power generation, 812.5 MW in onshore wind power generation, and 3.1 GW in offshore wind generation capacities in various stages of development.

As of December 31, 2023, CREC has 39 direct and indirect subsidiaries, which includes CREIT, Citicore Fund Managers, Inc., and Citicore Property Managers, Inc., among others.

Headquarters
11Th Floor, Rockwell Santolan Town Plaza, 276 Santolan Road
San Juan; National Capital Region; Postal Code: 1500

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Website: http://www.crec.com.ph

Basic Information
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Incorporation Date:
2011
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