Monday, 23 June 2025
5 hours ago
AlphaPrimus brokers $120-M cross-border deal between CREC, Pertamina
The acquisition represents Pertamina Group’s first investment in the Philippines, conducted through its subsidiary, Pertamina New & Renewable Energy. It also constitutes the first overseas investment approved by Danantara, Indonesia’s sovereign wealth fund established to promote strategic global expansion.
20 May 2025
10:30AM
Saavedra’s Citicore profit climbs 8% to P230M in Q1 2025 as revenue jumps on strong power sales
Tycoon Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) saw its net income climb 8 percent to P230 million in the first quarter of 2025, up from P213 million last year, as revenues jumped 41 percent to P1.4 billion.
9 Apr 2025
1:26PM
Saavedra’s CREC hits P1B profit in 2024, powers ahead with renewable push
Tycoon Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) grew its net income by 11 percent to P1 billion in 2024, up from P910 million in 2023, driven by higher electricity sales and expanded generation.
27 Feb 2025
10:06AM
Citicore’s P5.3B IPO wins big at The Asset Triple A Awards 2025
Tycoon Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) was recently recognized at The Asset Triple A Awards 2025 in the sustainable finance category for its P5.3 billion initial public offering (IPO).
21 Feb 2025
9:50AM
Saavedra-led CREC’s bold IPO gamble wins best mid-cap deal award
Tycoon Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) secured Alpha Southeast Asia’s Best Mid-Cap Equity Deal of the Year for its P5.3-billion initial public offering (IPO) at the magazine’s 18th Annual Deal & Solution, ESG, and Transaction Banking Awards last Feb. 12.
20 Jan 2025
4:06PM
Saavedra’s CREC to boost public stake ahead of P6.7-B Pertamina deal
By: Miguel R. Camus
Tycoon Edgar Saavedra plans to reduce his stake in Citicore Renewable Energy Corp. (CREC) to maintain a diversified public ownership structure as Pertamina Group, Indonesia’s largest state-owned firm, acquires a 20-percent stake.
9 Dec 2024
4:03PM
Saavedra’s CREC teams up with Sungrow for massive battery energy storage push
Citicore Renewable Energy Corp. (CREC), controlled by tycoon Edgar Saavedra, is advancing its renewable energy initiatives by partnering with Sungrow Power Supply Co., Ltd., a global leader in energy storage solutions.
14 Nov 2024
4:57PM
Saavedra’s Citicore Renewable Energy soars with 29% revenue jump in 9 months
Tycoon Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) posted a 29-percent jump in revenue, reaching P3.89 billion in the first nine months of 2024, alongside a net income increase of 6 percent to P756 million.
12 Nov 2024
10:38PM
Saavedra’s CREC secures 2GW solar panel supply deal with Trinasolar
Tycoon Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC), a leading renewable energy developer in the Philippines, signed a landmark 2-gigawatt (GW) solar module supply agreement with Trinasolar.
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