Yes! Pertamina NRE Kempit 20 Percent Share of CREC on the Philippine Stock Exchange

JAKARTA - Pertamina New & Renewable Energy (Pertamina NRE) officially became a shareholder in the issuer of the Philippine New & Renewable Energy (EBT) giant company, Citicore Renewable Energy (CREC). Pertamina NRE's ownership of CREC has been listed on the Philippine Stock Exchange (PSE) on Tuesday, January 13, 2026.

Pertamina NRE has completed the acquisition of 20 percent of CREC's shares in June 2025 with an investment value of approximately US$120 million through the signing of a Share Subscription Agreement in Jakarta.

Pertamina NRE Corporate Secretary Rika Gresia Wahyudi said this step is an important milestone for Pertamina NRE in strengthening its renewable energy business portfolio, especially in the Southeast Asian regional market.

"By becoming a shareholder in a leading EBT issuer in the Philippines, Pertamina NRE is proud to be able to contribute to the development of the EBT sector not only at the national level, but also in the Southeast Asian region. This investment confirms our commitment to strengthening regional collaboration and accelerating the energy transition in ASEAN," he said, Tuesday, February 3.

Through this strategic initiative, he continued, Pertamina NRE has consistently strengthened its role as a new and renewable energy company that is ready to support the Government's program in accelerating the national energy transition.

Furthermore, CREC CEO & President Oliver Y. Tan emphasized that the partnership with Pertamina NRE is a strategic step to strengthen the synergy of expertise and experience in the renewable energy sector.

"While advancing the EBT sector in the Philippines, this partnership is in line with our experience and expertise in renewable energy technology. I am confident that through this cooperation, Pertamina NRE and CREC can jointly advance the energy transition goals of the Philippines and Indonesia while supporting growth throughout the ASEAN region through renewable energy," he said.

As a leading renewable energy company in the Philippines, CREC has a rapidly growing portfolio of solar power projects with a gross installed capacity of 596 MWp in December 2025, with a target of installed capacity of 5 GW by 2029, and will contribute to environmental sustainability and reduce carbon emissions.

"This strategic partnership is expected to encourage wider synergies between Pertamina NRE and CREC, not only to provide added value to Pertamina NRE, but also to collaborate in developing EBT projects in Indonesia and Southeast Asia, improving technical expertise and technology transfer," he said.