A regulatory filing on Wednesday showed the state pension fund acquired 834.3 million common shares over the past 60 days for investment purposes, making it a substantial shareholder.
InsiderPHSpeculation over the entry of GSIS was reported by InsiderPH in its INSIDER INFO column.
Institutional bet grows
The purchases underscore growing institutional interest in renewable energy as the Philippines ramps up investments in power security and cleaner generation.
The shares were acquired in the secondary market, meaning the transactions did not raise fresh capital for Citicore. These transactions are typically viewed as a vote of confidence in the company’s growth strategy.
Expansion fuels interest
Under president and CEO Oliver Tan, Citicore ended 2025 with 14 operating solar plants and 597.2 megawatts of installed capacity.
The company is targeting 5 gigawatts of renewable energy capacity as it accelerates project development nationwide.
Citicore’s shareholder base also includes Indonesia’s state-owned PT Pertamina Power Indonesia, which owns a 20 percent stake, and United Kingdom-backed MOBILIST, an early investor before the company’s 2024 IPO.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
