In a disclosure to the Philippine Stock Exchange on Friday, Dec. 27, 2024, the firm said its strategy includes targeting income-generating properties, with a focus on solar and other renewable energy projects.
The company plans to adopt an accelerated approach to leasing land, allowing earlier income realization, according to the program.
Its revised investment policy, approved in 2022, now permits property leasing even during the construction phase, diversifying opportunities and increasing returns for stakeholders.
Growing portfolio
As of September 2024, CREIT’s asset portfolio consists of 7 million square meters of leasable land across Luzon, Visayas, and Mindanao, hosting a total solar capacity of 145 megawatts at peak output.
Recent acquisitions include 517 hectares in Batangas, Pampanga, and Pangasinan, ideal for large-scale solar projects. These acquisitions, funded by a P4.5-billion ASEAN green bond issuance, signify CREIT’s commitment to renewable energy expansion, the firm said.
In collaboration with Citicore Renewable Energy Corp., its sponsor, CREIT plans to support projects targeting a gross capacity of 4,248 MW over the next five years. This includes a robust pipeline of solar and wind energy developments in clustered locations to streamline implementation.
Funding strategy
To finance these initiatives, CREIT plans to leverage a strong credit rating, enabling a leverage limit increase to 70 percent of its P20.7-billion deposited property.
The company’s long-term leases and a weighted average lease expiry of 20.7 years provide stability and predictability in revenue streams.
Key highlights:
CREIT said its investment plan reflects its dedication to renewable energy growth while delivering sustainable returns to its investors.
