Citicore Energy REIT : Reinvestment Plan Progress Report
April 25, 2022 at 05:19 am
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Citicore Energy REIT Corp.CREIT
PSE Disclosure Form REIT-2 - Reinvestment Plan Progress Report Reference: Section 6 of the Amended PSE Listing Rules for REITS
Annual Report
Quarterly Report
Subject of the Disclosure
Use of Proceeds pursuant to the Reinvestment Plan of Citicore Renewable Energy Corporation ("CREC"), as Sponsor of Citicore Energy REIT Corp. ("CREIT").
Background/Description of the Disclosure
Progress Report on the Application of Proceeds as of March 31, 2022, duly certified by external auditors in relation to the Reinvestment Plan of CREC, as Sponsor of CREIT.
Update or Status of the Reinvestment Plan
As of March 31, 2022, the remaining balance of the proceeds from the sale of CREC's offer shares in CREIT and its sale of income-generating real estate to CREIT amounts to Five Billion Two Hundred Forty-Four Million Seven Hundred Thirty-Seven Thousand Nine Hundred Forty-Four Pesos and Fifty-One Centavos (Php5,244,737,944.51)
Summary of Transactions Involving Real Estate and/or Infrastructure Projects for the Period
Disbursements Breakdown
AFAB Solar Rooftop Phase 1 - PHP 307,997,768.76
Arayat Mexico Solar Farm Phase 1 - PHP 435,993,012.84
Arayat Mexico Solar Farm Phase 2 - PHP 126,167,769.46
Total Disbursements as of March 31, 2022 - PHP 870,158,551.06
Description of Real Estate Assets and/or Infrastructure Projects for the Period
AFAB Solar Rooftop Phase 1 - Solar rooftop in Bataan
Arayat Mexico Solar Farm Phase 1 - Solar farm in Arayat and Mexico, Pampanga, under a 50-50 joint venture with AC Energy Corporation
Arayat Mexico Solar Farm Phase 2 - Extension of Arayat Mexico Solar Farm Phase 1
Other Relevant Information
None.
Filed on behalf by:
Name
James Jumalon
Designation
Assistant Corporate Secretary
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Disclaimer
Citicore Energy REIT Corporation published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 04:18:07 UTC.
Citicore Energy REIT Corporation is a Philippines-based company which operates as a real estate investment trust. The Company's primary objective is to explore, develop and utilize renewable resources with a particular focus on solar and wind energy generation to design, construct, erect, assemble, commission, and operate power-generating plants and related facilities for the conversion of renewable energy into a usable form fit for electricity generation and distribution; and to perform other ancillary and incidental activities. It operates through two segments: sale of solar energy and leasing. The sale of the solar energy business segment is engaged in the generation of electricity from solar energy through its Clark Solar Power Project. The leasing business segment is engaged in the rental operations of the Company with related parties. Its leasing properties include Clark Solar Power Plant, Armenia Property, the Toledo Property, the Silay Property, and the Dalayap Property.
CITICORE ENERGY REIT CORP. 
