Citicore Energy REIT Corp. (CREIT) reported a net income of PHP 1.43 billion for 2025, supported by stable lease revenues from its solar energy portfolio, as the company sustained full occupancy across its assets and long-term contracted income streams.

In a disclosure with the Philippine Stock Exchange today, the country’s first renewable energy real estate investment trust said total revenues reached PHP 1.88 billion for the year, largely driven by guaranteed base lease income of PHP 1.67 billion. Variable lease revenues—linked to the performance of its solar operator-lessees—contributed an additional PHP 50.29 million.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ?1.85 billion, reflecting the company’s largely fixed-income structure anchored on long-term land leases for solar power developments.

“Our 2025 performance reflects the strength and resilience of CREIT’s business model, anchored on stability, consistency, and long-term value creation,” said CREIT President and CEO Oliver Tan. “As a REIT backed by essential infrastructure to the country’s energy targets, we are inherently positioned to navigate volatility better than traditional REITs, enabling us to deliver reliable and sustainable returns to our investors.”

CREIT’s portfolio now covers 7.1 million square meters of land leased to operating and pipeline solar projects tied to its sponsor’s broader expansion target of 5 gigawatts in five years. The company maintained a 100% occupancy rate throughout 2025 and reported a weighted average lease expiry of 19.44 years, underscoring the long-term visibility of its revenue streams.

The REIT declared an annual dividend of PHP 0.203 per share, translating to a 6.3% yield based on its closing share price of PHP 3.22 as of March 24. It also distributed 106% of its distributable income for the fourth consecutive year, exceeding the 90% minimum payout required under Philippine REIT regulations.

CREIT’s credit standing remained unchanged, with Philippine Rating Services Corporation affirming its PRS Aa+ issuer and bond ratings with a stable outlook. The company also received Golden Arrow Awards from the Institute of Corporate Directors for both 2024 and 2025, reflecting its adherence to regional corporate governance standards.

What do you think—can renewable energy REITs like CREIT play a bigger role in funding the country’s energy transition? 

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