Citicore Renewable Energy Corp. (CREC) posted a 14 percent jump in net income after tax to P1.15 billion in 2025, up from P1.0 billion in 2024, powered by P4.29 billion in electricity sales and disciplined cost management. 

The company said in a Monday disclosure that consolidated revenue rose 3 percent to P5.32 billion, with EBITDA climbing 3 percent to P1.81 billion, supported by a 34 percent rise in service fees and a 19 percent drop in finance costs.

Three new solar plants—two in Batangas, one in Pampanga—added 239 megawatts (MW), with six more totaling 484 MW set to go online in April.

In September, CREC launched the country’s first Baseload Solar Power Plant in Batangas, paired with a 320 megawatt-hour battery system. 

“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.

CREC also strengthened its capital base with $120 million from Pertamina New Renewable Energy and $55 million from Pentagreen Capital. 

“Smart capital will find its way to compelling investments, like the vision of CREC. Through our transparency, execution discipline, and investors’ trust, we continue to play a vital role in helping the Philippines reach its energy transition targets with our responsive and innovative renewable energy developments,” Tan said.