{"id":330090,"date":"2024-10-29T01:02:11","date_gmt":"2024-10-28T17:02:11","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330090"},"modified":"2024-10-29T01:02:13","modified_gmt":"2024-10-28T17:02:13","slug":"trade-the-news-crec-partners-with-singapores-levanta-for-wind-projects","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-crec-partners-with-singapores-levanta-for-wind-projects\/","title":{"rendered":"Trade the News: CREC partners with Singapore’s Levanta for wind projects"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Citicore Renewable Energy Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>CREC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 3.26<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Citicore Renewable Energy Corp. (CREC), through subsidiary Citicore Wind Energy Corp., is partnering with Levanta Renewables to develop an onshore wind portfolio in the Philippines.<\/p>\n\n\n\n

Levanta is a leading Southeast Asia-focused renewable energy platform backed by Actis, which recently announced a $600-million investment in Manila Electric Co.\u2019s Terra Solar project, aiming to build the world\u2019s largest solar and battery storage project.<\/p>\n\n\n\n

Actis acquired a majority stake in Levanta Renewables in August 2022, marking its first energy investment in Vietnam. Levanta plans to expand its 300-megawatt wind projects to a 1.5-gigawatt renewable platform across Southeast Asia.<\/p>\n\n\n\n

Joint venture<\/strong><\/p>\n\n\n\n

The deal with Levanta, signed on Oct. 18, 2024, forms a joint venture to advance CREC\u2019s wind projects. The partnership will oversee the development, financing, construction, and maintenance of four onshore wind projects in Luzon and Visayas, totaling 375 megawatts, secured through the Green Energy Auction Program in July 2023.<\/p>\n\n\n\n

Completion of the deal is pending customary conditions and is expected soon. This will help Citicore reach its goal of 3 GW of wind capacity, complementing its 5-GW solar target by 2028.

2nd UK-based investment for CREC<\/strong><\/p>\n\n\n\n

The entry of Actis is the second time for a United Kingdom-based entity to invest in CREC’s clean power push.<\/p>\n\n\n\n

The company also received a $12.5 million investment from United Kingdom government\u2019s MOBILIST program, its first in the country, during CREC’s initial public offering in June this year.<\/p>\n\n\n\n

(News Source: Insider PH<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330090","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330090"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330090\/revisions"}],"predecessor-version":[{"id":330092,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330090\/revisions\/330092"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}