Twinkling Journeys: Bright Holidays, Radiant Futures with CREC

COURTESY: Citicore Renewable Energy Corporation 

As the holiday season embraces us with its twinkling lights and heartwarming cheer, there's something truly magical about looking back at the year and appreciating the journey. This year, as we joyfully count the last five days before Christmas, the spirit of giving takes center stage. It's not just about the presents under the tree, but the lasting gifts we give to the future. Let's dive into how Citicore’s USBONG SCHOLARSHIPS are lighting up lives and creating radiant futures.

2024 has been a whirlwind of challenges and triumphs for everyone. But for Citicore, it’s been a year of immense satisfaction. As we look back, what stands out is the unwavering commitment to education through the USBONG SCHOLARSHIPS. With 37 students now on a promising educational path, this initiative has done more than just fund tuition fees—it has provided hope and a sense of belonging.

These scholarships aren’t just about numbers. They’re about stories—each student, a budding tale of potential and perseverance. Picture this: young minds, once worried about their educational futures, now bustling with dreams and ambitions. It’s a transformation that speaks volumes about the impact of community-driven support.

As the countdown to Christmas begins, the air is filled with excitement, anticipation, and a flurry of last-minute preparations. For many, it's a time to unwind, share laughter, and bask in the warmth of family and friends. But amidst the festive hustle, there's a profound joy in knowing that 37 students are looking forward to their own bright holidays, thanks to the education they've received.

These students, scattered across various communities, are not just beneficiaries but active participants in their own futures. The scholarships have empowered them to dream bigger, work harder, and aim higher. And as they wrap up 2024, they carry with them the invaluable gift of knowledge—an asset that will shine brightly in their lives for years to come.

Citicore’s commitment to providing clean energy is well-known, but its impact goes beyond environmental benefits. The link between clean energy and education may not be immediately apparent, but it’s a powerful connection. By investing in sustainable energy solutions, Citicore ensures that communities are not only powered efficiently but also sustainably, creating a foundation where education can thrive.

The USBONG SCHOLARSHIPS are a testament to this vision. They symbolize more than financial support; they represent an investment in a sustainable, educated future. This dual approach—nurturing both the planet and its people—creates a holistic, bright future for all. When communities have access to clean energy and education, they are equipped to tackle challenges head-on, ensuring that progress is both meaningful and inclusive.

As we stand on the cusp of 2025, the anticipation is palpable. The groundwork laid in 2024 sets the stage for even greater achievements in the coming year. The success of the USBONG SCHOLARSHIPS is just the beginning. Citicore envisions a future where education is universally accessible, where every child can dream without limitations.

The ripple effects of these scholarships are profound. They inspire others to take action, to contribute in whatever way they can, and to understand that every little bit helps. As we embrace the new year, let's carry forward this spirit of generosity and commitment. After all, bright holidays and radiant futures are not just seasonal sentiments—they are a way of life, a continuous journey toward a better tomorrow.

In conclusion, as we revel in the joys of the festive season, let's remember the true essence of giving. It’s about making a difference, one life at a time. And as Citicore’s USBONG SCHOLARSHIPS have shown us, when we invest in education, we truly light up the world. Here’s to a future that is as radiant as the brightest star in the holiday sky!

Lighting Up the Future: A Solar Revolution in the Philippines

Hey there, sun seekers and eco-warriors!  Let's dive into some electrifying news that's got the Philippines buzzing – literally! We're talking about a game-changing partnership between Citicore Renewable Energy Corporation (CREC) and Trinasolar, which is set to supercharge the country's renewable energy game. So, grab your shades, because things are about to get bright!

On a sunny November day in Manila, CREC and Trinasolar sealed the deal on a massive 2-gigawatt (GW) module supply contract. Yep, you heard that right – 2GW! This marks the largest contract between these two powerhouses to date. Imagine the possibilities with a contract of this magnitude. We're talking about thousands of homes powered by clean, sustainable energy, thanks to Trinasolar's state-of-the-art Vertex N 720W Series solar modules.

But who are the stars of this solar show? None other than Helena Li, Executive President of Trinasolar, and Oliver Tan, CREC President and CEO. They orchestrated this groundbreaking agreement, witnessed by a stellar lineup including Alreetz Santander and Lucia Roderos from Citicore, and Todd Li and Elva Wang from Trinasolar. It's like a who’s who of renewable energy brilliance!

Now, let's get into why this is such a big deal. This contract isn't just about numbers; it's about paving the way for the Philippines to become a leader in renewable energy. With the first gigawatt project already nearing completion, CREC is not slowing down. They are charging forward to achieve their ambitious goal of delivering 5GW of renewable energy capacity in just five years. Now, that's what we call dedication!

And why stop at just one gigawatt when you can have three? This partnership now totals a whopping 3GW, highlighting a deep trust and shared vision between Trinasolar and Citicore. It's more than business – it's about setting a new benchmark for sustainable progress in the region, and that’s something we can all get behind!

Let’s geek out for a second on the tech side of things. The Vertex N 720W Series modules are not your average solar panels. They employ cutting-edge 210mm platform and n-type i-TOPCon Advanced cell technology. Translation? Higher efficiency and better performance compared to traditional models. These panels are designed to maximize energy efficiency and yield, ensuring long-term reliability and a lower Leverage Cost of Energy (LCOE). In simpler terms, more bang for your buck!

Combining this innovative technology with CREC's expertise in the Philippine solar generation landscape means we're looking at a powerful synergy. Together, they aim to accelerate the development of solar power and contribute to powering a greener, more sustainable Philippines.

So, what does all this mean for the everyday Filipino? It means cleaner air, reduced reliance on fossil fuels, and a brighter future for generations to come. The Philippines is on the brink of a renewable energy revolution, and this partnership is at the heart of it.

With the government prioritizing renewable energy programs, including projects under the Green Energy Auction, CREC and Trinasolar are ready to roll out the big guns. This isn’t just about meeting the country's energy needs; it's about setting a precedent for the rest of the world. It's about proving that with determination and collaboration, we can achieve a first-world Philippines powered entirely by renewable energy.

So, whether you’re an environmental enthusiast, a tech geek, or just someone who loves the idea of a cleaner planet, this news is a beacon of hope. Let's bask in the glow of this sunny future and support the solar revolution that's lighting up the Philippines! 

Citicore Renewable Energy Corporation Shines Bright on the Philippine Stock Exchange

COURTESY: Citicore Renewable Energy Corporation (CREC)

You know what they say, "a rising tide lifts all boats." Well, Citicore Renewable Energy Corporation (CREC) is definitely riding that tide as they successfully listed on the Philippine Stock Exchange (PSE) on June 7, 2024. This momentous event marks a significant milestone for the company and the renewable energy sector in the Philippines.

CREC dazzled investors by completing its offering of a whopping 1,785,715,000 common shares, priced at PhP2.70 per share. There was even a 10% overallotment option of up to 178,572,000 secondary common shares! In total, 8,928,572,143 common shares hit the market, representing 22% of CREC’s total outstanding shares, with a market capitalization of PhP24,107,144,786.10 at the time of listing. Talk about making a grand entrance!

The strong investor confidence in CREC was palpable. An impressive 70% of the offer shares went to local and international institutional investors, while the remaining 30% found their way to eligible trading participants on the PSE and local small (retail) investors. This diverse investor base underscores the broad appeal of CREC's vision and projects.

Chairman Edgar Saavedra couldn't hide his excitement, stating, “We are delighted with the outcome of CREC’s initial public offering - a testament to strong investor confidence in our vision, plans, and projects.” He emphasized how the IPO is a game-changer, shaping companies and extending their collaboration with the PSE and SEC to three companies – Megawide, CREIT, and CREC. The success of this latest listing is a big pat on the back for everyone involved.

The IPO didn't just catch the eye of domestic investors; it also attracted reputable international institutional investors. One standout supporter is the UK Government’s MOBILIST programme. This initiative by the British Investment Partnership aims to boost infrastructure development and green transition in the Philippines and Southeast Asia. MOBILIST’s investment in CREC is their first IPO investment in the Philippines focused on renewable energy transition. That’s a pretty big deal!

CREC President and CEO, Mr. Oliver Tan, highlighted the importance of the capital raised, “With the investments made during the IPO, we have gained even more confidence in our ability to develop and expand our green energy portfolio. These investments are integral to the country’s transition to a cleaner form of power.” CREC's goal is crystal clear: contribute approximately 1.0 gigawatt (GW) of ready-to-build/under-construction solar energy capacity per year, aiming for a total of 5.0 GW by 2028. That’s some serious green energy!

The Securities and Exchange Commission (SEC) Chairperson and CEO, Emilio Aquino, was all smiles during the listing ceremony. He expressed his optimism, “The Commission is very hopeful that today's listing of Citicore's common shares will further propel the development of renewable energy projects. We hope that it remains steadfast in its dedication to innovation and sustainability.”

This IPO is one of CREC’s biggest capital-raising activities, following significant financial moves last year, including a landmark mezzanine loan facility with Pentagreen Capital and financing arrangements with RCBC. All these efforts are geared towards developing CREC’s pipeline of projects, contributing to the Philippines' renewable energy landscape.

Behind this successful IPO was a powerhouse underwriting syndicate. UBS led the charge as the sole global coordinator and joint bookrunner, with BDO Capital and Investment Corporation playing the role of joint bookrunner and domestic lead manager. The co-lead underwriters included CLSA Limited, PNB Capital Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation. AlphaPrimus Advisors provided financial advice to CREC, ensuring every move was strategic and well-calculated.

In summary, Citicore Renewable Energy Corporation's successful listing on the Philippine Stock Exchange is more than just a financial achievement; it's a beacon of hope for renewable energy in the Philippines. With strong investor confidence, international support, and a clear roadmap for growth, CREC is set to light up the future with clean, sustainable energy. So, keep your eyes on CREC – they’re definitely a stock worth watching!

Citicore's Journey to IPO: A Milestone for the Philippine Renewable Energy Sector

In an unprecedented move, Citicore Renewable Energy Corporation (CREC) has received a significant nod from the Philippine Stock Exchange, Inc. (PSE). The PSE, in its Notice of Approval (NOA) dated 29 January 2024, gave the green light for CREC's highly anticipated listing via an Initial Public Offering (IPO). A massive 10,042,857,143 common shares of CREC are set to be on the market, marking a significant stride in CREC's growth journey.

The NOA doesn't just present a rubber stamp; it comes with an approved timetable for the IPO-related activities. The clock has started ticking towards the price setting date on 06 March 2024. The offer period follows, set to run from 11 March to 15 March 2024. The climax of this timeline is the tentative listing date and commencement of trading on the PSE on 22 March 2024.

The IPO isn't just an event; it's an opportunity. The offer includes up to 2,900,000,000 primary common shares, known as Firm Shares. Additionally, an Overallotment Option of up to 435,000,000 secondary common shares is available. All these shares come at an offer price of up to Php3.88 per share, making it a tempting proposition for eager investors.

The IPO isn't just about listing and trading. The proceeds from this move are earmarked for a significant cause. CREC plans to use the fund to partially cater to its capital expenditures and pipeline development for solar energy plants and battery energy storage system (BESS). These plans align perfectly with their general corporate purposes.

CREC doesn't just promise a future; it's a green future. The company has a pipeline of renewable energy projects in the Philippines. Its goal is to add approximately 1.0GW of ready-to-build/under construction solar energy capacity each year through 2027. This aggressive growth plan underlines CREC's commitment to renewable energy.

The PSE's approval, though a significant milestone, comes with conditions. CREC's listing is subject to its compliance with all PSE-mandated conditions and requirements. The ball is now in CREC's court to ensure that it adheres to these stipulations.

CREC's journey to this point hasn't been a solo endeavor. The Securities and Exchange Commission played a significant role too. On 17 January 2024, the SEC issued the pre-effective approval for CREC’s IPO, setting the stage for the PSE's subsequent approval.

What does the future hold for CREC? With the IPO, a green future, and adherence to PSE conditions, the company looks set for a bright future. The projections are positive, and the potential for growth is immense.

The approval of CREC's listing via an IPO is a significant milestone. It signifies a green future, promising growth, and a commitment to renewable energy. It's a testament to CREC's vision and their commitment to their corporate purposes.

CREC's journey to this point has been marked by strategic planning, a commitment to renewable energy, and an aggressive growth plan. The approval of their listing via an IPO is a testament to their journey so far and a promise of what lies ahead.

Witness the dawn of Citicore Renewable Energy Corporation's IPO journey. Discover the green future they envision, their commitment to renewable energy, and their aggressive growth plan. Join us as we delve into their journey and what lies ahead.