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Citicore Renewable Energy Corp. (CREC) has announced a $2 billion allocation for its 2026 capital expenditure program, aimed at completing 3 gigawatts of solar and battery energy storage projects, funded through 70% borrowings and 30% equity.

This initiative aligns with the Department of Energy's fourth Green Energy Auction program, with substantial project completion expected by the end of 2026 and full impacts in 2027. CREC also plans to integrate battery energy storage systems at new sites, facing challenges from rising costs linked to the depreciation of the Philippine peso and high commodity prices.