Pertamina NRE, the new energy and renewable energy subsidiary of Indonesia’s national oil company, has further strengthened its corporate performance and achieved positive results in the regional clean energy sector through its investment in the Citicore Renewable Energy Corporation (CREC) of the Philippines.
After acquiring a 20% stake in CREC in June 2025, Pertamina NRE has since benefited from improved company performance and a significant jump in share price, and now has successfully received dividend returns.
Pertamina NRE corporate secretary Sri Nuurhidayati stated in Jakarta on Saturday that this outcome further consolidates the company’s commitment to building a healthy, efficient, and sustainable investment portfolio.
As of the second quarter of 2026, CREC’s market value has increased from around USD 600 million to nearly USD 900 million, a rise of almost 50% since Pertamina NRE became a strategic investor last year.
Sri said that these results demonstrate that Pertamina NRE’s inorganic investment strategy not only brings substantial investment returns but also further strengthens the company’s competitive position in the regional clean energy market.
She noted that CREC has distributed dividends within just a year, proving that the investment not only has long-term growth potential but has already produced tangible financial returns.
Apart from contributing to financial performance, this investment has also further strengthened Pertamina NRE’s renewable energy business footprint in Southeast Asia.
Currently, CREC possesses over 1,200 MWdc of solar power generation capacity, making it one of the largest solar developers in the Philippines, and it has become a vital strategic asset in Pertamina NRE’s investment portfolio.
Meanwhile, Pertamina NRE continues to monitor CREC’s short- and long-term strategy execution to ensure maximized value creation.
On another note, Pertamina NRE’s strategic investment in CREC has also been supported by Danatara Investment Management.
Danatara Investment Management Chief Investment Officer Pandu Patria Sjahrir stated that this investment not only creates corporate value but also carries long-term strategic significance, helping to strengthen regional clean energy cooperation.
He said that this is not only value creation, but also possesses long-term strategic merit, including potential future cross-border collaboration between Indonesia and the Philippines.
He pointed out that potential cooperation includes exporting solar panels produced by Pertamina NRE subsidiaries, promoting technology transfer, and providing Indonesian professionals for the rapidly developing Philippine renewable energy sector.
He believes this cooperation also further consolidates the development potential of ASEAN countries’ synergy in the clean energy sector.
Pertamina NRE corporate secretary Sri Nuurhidayati stated in Jakarta on Saturday that this outcome further consolidates the company’s commitment to building a healthy, efficient, and sustainable investment portfolio.
As of the second quarter of 2026, CREC’s market value has increased from around USD 600 million to nearly USD 900 million, a rise of almost 50% since Pertamina NRE became a strategic investor last year.
Sri said that these results demonstrate that Pertamina NRE’s inorganic investment strategy not only brings substantial investment returns but also further strengthens the company’s competitive position in the regional clean energy market.
She noted that CREC has distributed dividends within just a year, proving that the investment not only has long-term growth potential but has already produced tangible financial returns.
Apart from contributing to financial performance, this investment has also further strengthened Pertamina NRE’s renewable energy business footprint in Southeast Asia.
Currently, CREC possesses over 1,200 MWdc of solar power generation capacity, making it one of the largest solar developers in the Philippines, and it has become a vital strategic asset in Pertamina NRE’s investment portfolio.
Meanwhile, Pertamina NRE continues to monitor CREC’s short- and long-term strategy execution to ensure maximized value creation.
On another note, Pertamina NRE’s strategic investment in CREC has also been supported by Danatara Investment Management.
Danatara Investment Management Chief Investment Officer Pandu Patria Sjahrir stated that this investment not only creates corporate value but also carries long-term strategic significance, helping to strengthen regional clean energy cooperation.
He said that this is not only value creation, but also possesses long-term strategic merit, including potential future cross-border collaboration between Indonesia and the Philippines.
He pointed out that potential cooperation includes exporting solar panels produced by Pertamina NRE subsidiaries, promoting technology transfer, and providing Indonesian professionals for the rapidly developing Philippine renewable energy sector.
He believes this cooperation also further consolidates the development potential of ASEAN countries’ synergy in the clean energy sector.