Saavedra-led Citicore Renewable Energy Corp. (CREC) has secured P4.05 billion in financing from state-run Land Bank of the Philippines, according to Philstar Biz.
The loan will fund two integrated solar projects located in Pampanga and Nueva Ecija. These projects are part of CREC's expansion in renewable energy, aiming to increase the company's solar capacity in Luzon.
CREC, led by the Saavedra group, continues to grow its portfolio of solar power plants with backing from government financial institutions, aligning with the country's push for clean energy.