Inquirer File: SOLAR FARM TOUR UK Ambassador Laure Baufils (left), CREC chair Edgar Saavedra, Citicore Construction prexy Alreerz Santander and Citicore Solar Batangas 1 project manager Jay Oreta in Batangas
MANILA, Philippines — Citicore Renewable Energy Corp. (CREC) posted an 8-percent jump in earnings in the first quarter, driven by higher power sales.
In a disclosure on Thursday, the listed clean energy firm said its net income increased to P230.34 million from P213.03 million a year ago.
Its revenues likewise recorded a robust growth of 41 percent to P1.41 billion against the previous P998.5 million.
Revenue contributions from electricity sales alone reached P1.2 billion, a 46.6-percent surge from P821.96 million. The group said the growth was fueled by its stronger customer base.
CREC is targeting 5 gigawatts of renewables capacity by 2028. Currently, the…
