Jakarta, June 27 -- Indonesia's Pertamina New & Renewable Energy (NRE) has strengthened its financial performance through a strategic investment in the Philippines' Citicore Renewable Energy Corporation (CREC).

After acquiring a 20 percent stake in CREC in June 2025, Pertamina NRE began receiving dividends as the company's performance and share price continued to improve.

"This success further strengthens Pertamina NRE's commitment to developing a healthy, productive, and sustainable investment portfolio," Pertamina NRE Corporate Secretary Sri Nur Hidayati said in a statement on Saturday.

As of the second quarter of 2026, CREC's market capitalization had increased from around US$600 million to nearly US$900 million, representing growth...