Citicore Renewables Energy Corp. (CREC) said Thursday its net income for the first half of 2024 stood at P456.40 million, a slight increase from P455.27 million last year.
“CREC attributes this robust performance to our portfolio of 10 operating solar power facilities with a combined gross operating capacity of 285 megawatts (MW),” CREC president and CEO Oliver Tan said.
“We ensure optimal performance in our plants to augment grid capacity for peak demand requirements,” he added.
Revenues were said to have climbed by 13 percent to P2.09 billion from P1.85 billion.
Earnings from the sale of electricity rose by 15 percent to P1.73 billion, while revenues from lease income stood at P324.68 million, the same as the previous year.
Revenues from service fees increased by 20 percent to P29.48 due to additional service fees from operations and maintenance agreements and the increase in service fee rates for some projects.
On Thursday, CREC’s share price was down by a centavo to close at P3.00 each.
Be the first to comment