The province’s role in the country’s renewable energy future just got a major boost. Citicore Energy REIT Corp. (CREIT), the Philippines’ first and largest renewable energy REIT, has approved a strategic asset-for-share swap that will infuse approximately 1.7 million square meters of land and 860 megawatt-peak (MWp) of solar assets into its portfolio — including key assets located in Pampanga .
The transaction will expand CREIT’s current portfolio by about 20 percent, bringing its total gross leasable area to 8.8 million square meters upon completion — solidifying its position as the largest REIT in the Philippines . The solar assets span multiple provinces: Pangasinan, Pampanga, Batangas, Quezon, and Negros Occidental.
1.7 Million Square Meters: What the Asset Infusion Means for Pampanga
The transaction, approved by CREIT’s Board of Directors on May 15, 2026, involves acquiring assets from sponsor Citicore Renewable Energy Corporation (CREC) and its subsidiaries . The infusion includes both land assets and stabilized, income-generating solar facilities that are already operational under long-term lease agreements.
CREIT President and CEO Oliver Tan explained the strategic significance: “This transaction reflects how CREIT’s platform is built for long-term growth, allowing us to acquire stabilized, income-generating assets while deepening strategic alignment with our sponsor” . The assets have undergone independent third-party valuation to ensure the deal will be executed at fair market value on an arm’s length basis.
A Track Record of Solar Development in Arayat
The Pampanga solar assets are part of a larger renewable energy pipeline that CREC has been developing. The sponsor previously announced solar projects in Arayat, Pampanga, as part of its aggressive expansion under the government’s Green Energy Auction program . These facilities are designed to contribute to CREC’s target of reaching approximately 1.2 gigawatts of solar power capacity by the end of 2025.
CREIT’s business model is built on long-term stability. The company maintains 100 percent year-round occupancy across all its assets, with a weighted average lease expiry of 19.19 years — providing shareholders with predictable, sustainable income visibility . For Q1 2026, CREIT reported revenues of ₱458 million, EBITDA of ₱446 million, and net income of ₱342 million.
Shareholder Value and Dividends Reinforce Growth
The expansion comes alongside positive news for investors. CREIT declared a regular cash dividend of ₱0.049 per share for the first quarter of 2026, with a record date of June 11, 2026, and payment scheduled for July 8, 2026 . This represents a 6 percent dividend yield based on the March 31, 2026 closing price of ₱3.40 per share.
The transaction is targeted for execution within the coming months of 2026, subject to customary closing conditions, finalization of terms, and regulatory approvals from the Securities and Exchange Commission and the Philippine Stock Exchange . For Kapampangans and investors alike, CREIT’s expansion signals that Pampanga is not just keeping pace with the country’s renewable energy transition — it is helping lead it.
