A surge of clean energy is brewing in the Philippines as Citicore Renewable Energy Corp. (CREC) embarks on a significant expansion of its renewable portfolio, focusing on the power of the wind. The company is actively developing nearly 200 megawatts (MW) of onshore wind farms, signaling a bold move towards a greener future for the nation.
CREC envisions a 45-MW wind power facility in Camarines Sur coming online by next year, promising a substantial boost to the region’s energy supply. Simultaneously, a much larger 152-MW wind farm in Iloilo is slated for completion within the next three years, demonstrating the company’s ambitious long-term commitment.
This expansion isn’t a solo endeavor. CREC is partnering with Singapore-based Levanta Renewables, a collaboration forged in 2024, to accelerate the development of these vital projects. The synergy between the two companies is proving powerful, driving innovation and efficiency.
Together, CREC and Levanta are tackling four onshore wind projects strategically located across Luzon and Visayas, boasting a combined capacity of 375 MW. These projects were secured through competitive bidding in the Department of Energy’s green energy auction program in 2023, ensuring a stable market for the generated power.
The commitment to renewable energy extends beyond wind. CREC has dramatically increased its capital expenditure to approximately $2 billion for 2026, fueling the development of 1.2 gigawatts (GW) of new solar power projects. This substantial investment underscores the company’s dedication to diversifying its energy sources.
CREC’s operations are far-reaching, encompassing renewable energy generation, power project development, and even retail electricity supply. Currently, the company operates solar facilities throughout the Philippines with a combined capacity exceeding 500 MW, already making a significant impact on the country’s energy landscape.
Looking ahead, CREC has set ambitious growth targets. The company aims to expand its total portfolio to around 5 GW by 2028, with an intermediate goal of reaching a 3-GW capacity by the end of this year. This aggressive expansion plan positions CREC as a key player in the Philippines’ renewable energy revolution.
