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Indonesian firm invests in CREC
Manila Bulletin
|June 20, 2025
Renewable energy (RE) developer Citicore Renewable Energy Corp. (CREC) announced on Thursday, June 19, that Indonesia’s Pertamina New & Renewable Energy (Pertamina NRE) has completed a subscription agreement to acquire a 20-percent interest in the company.
In a statement, CREC said that Pertamina NRE’s subscription is valued at $120 million—approximately P7.2 billion—and aims to facilitate the potential development of solar and wind power projects, as well as collaborations on carbon credit development and trading.
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