C03909-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 11, 2024
2. SEC Identification Number
CS201807415
3. BIR Tax Identification No.
010-007-383-000
4. Exact name of issuer as specified in its charter
Citicore Renewable Energy Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
11F Rockwell Santolan Town Plaza, 276 Col. Bonny Serrano Avenue, San Juan City Postal Code 1500
8. Issuer's telephone number, including area code
(02) 8826-5698
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 8,928,572,143
11. Indicate the item numbers reported herein
Item 9. Other Matters

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Citicore Renewable Energy CorporationCREC

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification re: the news article posted in bilyonaryo.com
Source bilyonaryo.com
Subject of News Report Clean energy race: Saavedra’s CREC bids for Caliraya-Botocan-Kalaayan hydropower complex
Date of Publication Jun 9, 2024
Clarification of News Report

We write in connection with the correspondence posted in PSE EDGE requiring Citicore Renewable Energy Corporation (“CREC” or the “Company”) to clarify and/or confirm the following statements quoted in the news article entitled “Clean energy race: Saavedra’s CREC bids for Caliraya-Botocan-Kalaayan hydropower complex” posted in bilyonaryo.com.ph where it was reported in part that:

“Bilyonaryo Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) is setting its sights on the 796.6-megawatt Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex in Laguna, which is up for bidding by the Power Sector Assets and Liabilities Management Corp.

According to a Babbler, CREC is among the companies that have expressed interest in the CBK project, aiming to expand its portfolio to include hydropower and wind projects in addition to solar power.

The CBK hydro facilities, currently under a 25-year concession agreement with a consortium led by Japan’s Electric Power Development Co. Ltd and Sumitomo, comprise four separate plants: the 39.37 MW Caliraya in Lumban, 22.9 MW Botocan in Majayjay, and 36 MW Kalayaan I and 368.36 MW Kalayaan II.

Situated on Luzon, the country’s main island, the CBK complex serves as a reliable and clean energy source, supplying a significant portion of power to Metro Manila, the Philippines’ largest consumer.

PSALM, chaired by Finance Secretary Ralph Recto, expects the sale of the CBK complex to generate up to P100 billion. Bidding is expected in the coming months, with the asset turnover potentially occurring next year.

. . . .

If shortlisted, this will bolster CREC’s bid to become a top-tier power producer in the country. The company aims to contribute a total of 5,000 megawatts of solar energy capacity by 2028, or 1,000 MW per year, with long-term plans to double that capacity.

‘The goal is to become the largest, if not one of the top three largest, power generation companies in the Philippines, not just in solar,’ said CREC president and CEO Oliver Tan during a media briefing following the company’s stock exchange listing.

. . . .”

CREC is continuously seeking opportunities to further expand its renewable energy portfolio as part of its ordinary course of business and may, from time to time, participate in the bidding of interesting renewable energy projects on tender.

Accordingly, we confirm that CREC has secured bidding documents in relation to the bidding of the CBK hydroelectric power plant complex. Please be assured that the Company will keep the PSE timely apprised of any further material developments in this regard.
Other Relevant Information

Please refer to the attached SEC Form 17C and clarification letter.
Filed on behalf by:
Name Steven Sy
Designation Corporate Legal Counsel