CREIT earns P1.03B, maintains 6.8% dividend yield
Former US Vice President Al Gore once said that 2026 is a year where the world would transition to renewable energy. He highlighted that global momentum has crossed major thresholds, noting that solar capacity has grown roughly 400fold over the 20 years since the launch of the Climate Reality Project.
He furthered that clean energy is around 65% of global energy investment compared to 35% in fossil fuels, and is now dominated by solar and wind with around 86% of new electricity generation came from the two renewable resources.
One such testament to the growing use of renewable energy is the current earnings of Citicore Energy REIT Corp. (CREIT), the Philippines’ first renewable energy real estate investment trust. CREIT’s financial performance highlights the strength of this lease-backed business model.
With the company’s revenue reaching P1.37 billion, consistent with the same period last year, the company’s income was driven by guaranteed base leases that account for approximately 93% of total revenue.
Profitability remained exceptionally high, generating P1.03 billion in net income, a 94% gross profit margin, and an EBITDA of P1.34 billion, which represents an extraordinary 98% EBITDA margin.
CREIT offers a compelling combination for investors navigating market volatility: predictable quarterly income paired with long-term clean energy expansion.
By leasing the land and infrastructure behind clean power plants to operators under long-term agreements, CREIT converts renewable energy development into steady dividend streams for its shareholders.
For income-focused investors, this financial strength translates into regular cash payouts.
Under Philippine REIT law, CREIT is mandated to distribute at least 90% of its distributable income. The Board declared a third-quarter cash dividend of P0.049 per share, payable on 12 January 2027 to stockholders of record as of 11 December 2026. Based on CREIT’s closing price of P2.89 on 30 September 2026, this payout represents an annualized dividend yield of approximately 6.8%.
Long-term visibility and future growth further reinforce the company’s outlook. CREIT maintains a 100% occupancy rate across its portfolio with a Weighted Average Lease Expiry (WALE) of 18.69 years, securing contract-backed revenues that extend into the mid-2040s with built-in annual rent escalations.
Growth is powered by its sponsor, Citicore Renewable Energy Corporation (CREC), which reached 1 gigawatt of installed capacity in 2026 and aims for 5 gigawatts within five years, establishing a clear pipeline for future asset infusions into CREIT.
“Our existing portfolio continues to provide a stable source of recurring income, supported by long-term lease contracts with built-in escalations,” said Oliver Y. Tan, President and CEO.
“While external conditions continue to influence investor sentiment, our operating fundamentals remain sound. We remain focused on sustaining the strength of our existing portfolio, maintaining consistent returns for our shareholders, and prudently pursuing opportunities that will support CREIT’s next phase of growth.”
Beyond earnings, CREIT provides investors with a direct role in funding the Philippines’ transition toward sustainable power generation. Investors should note that share prices fluctuate with market conditions and interest rate changes, while dividend distributions depend on ongoing operational performance and sponsor project timelines.
And with the Philippine Government eyeing to achieve a 35 percent renewable energy target in its power generation mix by 2030, expect CREIT to be at the forefront of that task.
The Department of Energy (DOE) is utilizing every trick in the book, including aggressive competitive auctions, off-grid developments, and emerging indigenous clean power sources, just to achieve the target set.
The country’s current renewable energy share has crossed 25 percent, supported by more than 20,000 megawatts (20 gigawatts) of capacity awarded across four previous Green Energy Auction (GEA) rounds.
Additional auctions—including Waste-to-Energy, Offshore Wind (GEA-5), and a dedicated round for Mindanao (GEA-7)—are scheduled for rollout later this year to accelerate clean power deployment through 2028 and beyond.
These developments align with President Ferdinand Marcos Jr.’s clean energy directives, highlighting indigenous and sustainable power expansion as vital to insulate the nation from foreign fuel volatility.