Citicore Energy REIT Corp. (CREIT) plans to complete its next batch of asset additions within this year, pending regulatory approvals, as it moves to expand its renewable energy portfolio. President and CEO Oliver Tan confirmed the company is securing necessary clearances for several solar projects lined up for infusion.
Driven by the national push for renewable energy, CREIT sees growing opportunities to acquire assets both through internal development and external purchases. Last month, its board approved a proposed asset‑for‑share swap with parent firm Citicore Renewable Energy Corp. and its units. The deal would bring in roughly 1.7 million square meters of land and 860MWp of solar facilities across Pangasinan, Pampanga, Batangas, Quezon, and Negros Occidental.
Once finalized, the transaction will boost CREIT’s leasable land bank by about 20 percent and lift total gross leasable area to 8.8 million square meters—enough to make it the biggest REIT in the Philippines. All assets have been independently valued to ensure fair pricing and proper transaction terms. Management noted the move supports long‑term growth, strengthens alignment with its sponsor, and delivers sustained value for shareholders.
This expansion positions CREIT as a dominant player in the local REIT sector while directly supporting the country’s clean energy transition, unlocking new income streams and greater scale for investors.
