Dividends Flow, Valuation Soars: Pertamina NRE's Move in the Philippines Bears Fruit
Jakarta, ruangenergi.com – The aggressive move by Pertamina New & Renewable Energy (Pertamina NRE) to invest in Citicore Renewable Energy Corporation (CREC) is starting to show tangible results. Just one year after acquiring a 20 per cent stake in CREC in June 2025, Pertamina NRE is now enjoying both dividends and a significant surge in investment value.
As of the second quarter of 2026, CREC’s market capitalisation has jumped from approximately US$600 million to nearly US/US$900 million. This means the company’s value has grown by almost 50 per cent since Pertamina NRE entered as a strategic investor. This increase serves as a strong signal that the renewable energy sector in Southeast Asia is becoming increasingly promising.
Corporate Secretary of Pertamina NRE, Sri Nur Hidayati, emphasised that this achievement proves the company’s inorganic investment strategy is working effectively and generating financial benefits faster than expected.
“The distribution of dividends from CREC within a one-year period is proof that the investments we make not only have long-term growth prospects but have also provided real financial benefits,” Sri stated in Jakarta on Monday (22/6).
Beyond profits, this investment also strengthens Pertamina NRE’s foothold in the regional green energy business. Currently, CREC manages solar power plant (PLTS) capacities of more than 1,200 MWdc, making it one of the largest solar energy players in the Philippines.
For Pertamina NRE, the ownership in CREC is not merely a financial portfolio, but also a strategic asset to expand its clean energy business network within ASEAN.
CREC Director representing Pertamina NRE, Eri Reksoprojo, described this cooperation as a mutually beneficial strategic investment. According to him, in addition to providing dividends, the investment has recorded a return on investment (ROI) of 43.4 per cent, an achievement that demonstrates disciplined investment execution based on strong business fundamentals.
“This is not just a strategic financial investment, but a pathway to expand cooperation, strengthen our portfolio, and increase Pertamina NRE’s bargaining position for future renewable energy investment opportunities,” said Eri.
This success also received support from Danantara Investment Management. The company’s Chief Investment Officer (CIO), Pandu Patria Sjahrir, assessed that Pertamina NRE’s investment in CREC holds long-term strategic value.
According to Pandu, Indonesia-Philippines synergy in the green energy sector has the potential to open opportunities for solar panel exports, technology transfer, and the placement of Indonesian labour in the rapidly growing Philippine renewable energy industry.
Moving forward, Pertamina NRE affirmed that it will continue to prioritise an investment strategy based on value creation, not only pursuing returns but also strengthening national and regional clean energy business capabilities. The investment in CREC is now one of the important pillars for Pertamina NRE in accelerating the energy transition while strengthening Indonesia’s energy security amidst the changing global energy landscape.