Indonesia's Pertamina NRE snaps up 20% of Philippines' Citicore Renewable Energy

The Philippines is one of the fastest growing markets for renewable energy investment and the $115m of proceeds will be used towards hydro, wind and solar projects in the country.

Andrew Tjaardstra

January 10, 2025

Indonesian state-owned enterprise Pertamina Power Indonesia, known as Pertamina New & Renewable Energy or Pertamina NRE, is taking a 20% stake in Citicore Renewables Energy Croporation (CREC) as it expands into the Philippines.

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