Pertamina New & Renewable Energy (Pertamina NRE) has managed to increase its renewable energy generation capacity by 14 percent in the first half of 2025, reaching a total of 2,842 MW. 

This growth apparently follows the company’s strategic move, which included acquiring a 20 percent stake in the Philippines-based Citicore Renewable Energy Corporation (CREC).

As of mid-2025, CREC reported revenue of ₱2.66 billion (Rp755.44 billion), marking a 28 percent year-on-year growth. The company’s Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 22 percent to ₱932 million (Rp264.69 billion), while net profit surged 38 percent to ₱630 million (Rp178.92 billion). This strong financial performance was driven by a rise in electricity sales, making CREC an increasingly attractive choice for industrial customers in the Philippines.

John Anis, CEO of Pertamina NRE, emphasized that CREC’s robust performance validates Pertamina NRE’s decision to invest, aligning with its broader strategy to enhance renewable energy capacity and provide sustainable clean energy solutions.

“In addition to improving its financial standing, CREC's stock price has seen notable growth, climbing 30 percent since the start of 2025. From an initial price of ₱3.24 (Rp920.16) at the beginning of the year, it reached ₱4.21 (Rp1,195) by August 15, 2025,” he said s quoted in a statement on Wednesday, August 20, 2025.

CREC is aiming to expand its installed capacity to 5 gigawatts (GW) within the next five years, with the first 1 GW expected to come online this year. This expansion is expected to generate new investment opportunities for both CREC and Pertamina NRE in the renewable energy sectors of both the Philippines and Indonesia.

The collaboration reflects Pertamina NRE’s ongoing commitment to the global energy transition and its support for the achievement of net-zero emissions by 2060. It also underscores Pertamina’s alignment with the Sustainable Development Goals (SDGs) and its adherence to Environmental, Social, and Governance (ESG) principles in all business operations.

Fadjar Djoko Santoso, Vice President for Corporate Communication at Pertamina, said that the company’s investments in renewable energy underline Pertamina Group’s dedication to advancing energy transition efforts and reducing carbon emissions, further reinforcing its role in the green energy sector.

With these developments, Pertamina NRE is poised to continue its leadership in the renewable energy industry while driving significant progress toward sustainable, clean energy solutions globally.