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Citicore Renewable Energy Corp. (CREC) plans to allocate $2 billion for its 2026 capital expenditure program to complete 3 gigawatts of solar and battery energy storage projects. Funding will come from 70% borrowings and 30% equity.

The budget supports projects under the Department of Energy's fourth Green Energy Auction program. CREC aims for substantial completion of its projects by the end of 2026, with full-year impacts expected in 2027.

The company also intends to integrate battery energy storage systems into new sites. Rising costs due to the depreciation of the Philippine peso and high commodity prices for copper and silver are challenges. CREC is the parent firm of Citicore Energy REIT Corp.