Citicore prepares for IPO to fund $4 billion investment in renewables

Citicore Renewable Energy Corp, one of the major solar power producers in the Philippines, has revealed plans to go public in 2023. It anticipates that the share sale will contribute to a $4 billion investment in solar projects over the following five years. According to the statement, the IPO proceeds will enable Citicore to invest $800 million this year to increase its current generation capacity from 241 MW to 1 GW, and a total of $4 billion over five years to reach an installed capacity of 5 GW.

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