Citicore Renewable Energy Corporation (CREC) posted a 14 percent increase in net income to P1.15 billion in 2025, driven by lower financing costs, rising service revenues, and steady electricity sales, highlighting improved profitability as the company expands its renewable portfolio.
CREC said consolidated revenues grew three percent to P5.32 billion, anchored on sustained electricity sales of P4.29 billion. The increase was attributed to the full-year impact of higher renewal rates among electricity retail customers, underscoring the strength of its contracted portfolio.
Earnings were further lifted by a 34 percent jump in service fees to P325 million and a 19 percent drop in finance costs following successful refinancing initiatives. Combined with disciplined cost management, these gains pushed EBITDA up three percent to P1.81 billion.
“The increase in earnings highlights our ability to optimize our capital structure while maintaining stable operations,” the company said, citing refinancing efforts as key to protecting margins despite modest topline growth.
On the operations front, CREC energized three solar plants in 2025 with a combined capacity of 239 MWdc, which are expected to deliver full-year contributions in 2026.
The company is also set to switch on six additional solar facilities totaling 484 MWdc in April 2026, positioning it to meet peak summer demand.
CREC President and CEO Oliver Tan said innovations such as baseload solar paired with battery storage demonstrate how renewable energy can deliver reliable power while supporting national growth.
