Citicore Renewable Energy Makes Philippine Stock Exchange Debut of PHP 5.3 Billion

Citicore Renewable Energy Corporation has high hopes for the Philippines’ renewable energy growth as it debuts in the Philippine Stock Exchange (PSE).

In its initial public offering, the company was able to secure PHP 5.3 billion, reaching goal of generating an annual 1,000 megawatts (MW) of solar energy capacity for the next five years set by founder Edgar Saavedra.

Saavedra pointed out on the government’s doubling of efforts to transition the country to renewable energy during his “Business Outlook” interview on ANC.

“We have a good leader in the DOE (Department of Energy) now, where this administration is pushing for renewable energy,” he states.

Citicore Renewable Energy is now live on the state bourse, trading under the ticker symbols $CREC. 

Source: Citicore Renewable Energy optimistic about growth in the Philippines