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Citicore inks 3-year supply contract with Clark power distributor

Posted on March 1, 2022

Citicore Renewable Energy Corp. (CREC), the parent firm of the country’s first ever energy-focused real estate investment trust, has added Cogent Energy to its expanding customer base.


Oliver Tan firms up PH’s first energy REIT listing; Citicore IPO size cut to P6.4B to give investors higher yield. Cogent is the local retail electricity supplier unit of Clark Electric Distribution Corp., a private electric power distribution utility located within the Clark Special Economic Zone.


Long-term partnership: Shell, Citicore renew power supply agreement. Apart from sharing the same vision of delivering green energy, Cogent tapped CREC as a renewable energy partner to ensure a stable and reliable energy supply to the Luzon grid, especially within Clark and other areas in Pampanga.


Citicore REIT moves listing date after heavily oversubscribed IPO. The power supply agreement originated as a short-term contract, which extended to a longer maturity with an expanded scope, from an initial volume of 2MW to 5MW based on the renewed terms.


Save the date: Citicore REIT set for Feb. 22 listing. “With a growing interest among consumers in renewable energy, Citicore’s end-to-end value chain and vertical integration allows us to operate more efficiently and provide more flexibility that work better with clients,” said Oliver Tan, president and CEO of Citicore.


Citicore REIT gets warm welcome on first trading day, surges 15%. Citicore aims to build 1,500 megawatts of solar energy capacity, in the next two years, making it among the country’s largest.

“Together with this build up, we are also scaling up our agrosolar farm operations by offering a wide range of employment and livelihood opportunities to our farmer communities. In so doing, we hope to integrate modernization and inclusivity across areas with strong infrastructure developments and an abundant agriculture sector,” Tan said.