Citicore gets initial P9B from key RCBC deal
The infused capital — the first tranche of a P20-billion financing deal with RCBC — will aid Citicore’s goal of delivering this year’s one-gigawatt target. Initial tranche will specifically be allocated for CREC’s solar power plant projects in Batangas, Pampanga, and Negros Occidental
Citicore Renewable Energy Corp. and Rizal Commercial Banking Corp. sign a financing agreement for the funding of the former’s multiple solar power plant projects. At the landmark deal signing are (from left) Robert Ramos, president and CEO — RCBC Trust Corp; Arsenio Kenneth Ona, president and CEO — RCBC Capital Corp; Elizabeth Coronel, executive vice president — RCBC; Eugene Acevedo, president and CEO — RCBC; Edgar Saavedra, chairperson — CREC; Oliver Tan, president and CEO — CREC; Louie Ferrer, director — CREC; Mia Cortez, chief finance officer — CREC; and Jez dela Cruz, head of corporate finance — Citicore.
Photograph courtesy of Citicore Renewable Energy Corp.