I’d like to share this solar farm video from Tara Lets Cebu. If you’re a CREIT investor, then this is one of the solar power plants that you proportionally own and derive quarterly dividend income from.

Citicore Renewable Energy Corp., CREIT’s sponsor, will groundbreak 3 more of these solar farms located in various provinces in 2023 with a combined capacity of 570 megawatts. Hopefully the regulators will exempt them from the 3-year rule before being allowed to be infused into the REIT. Afterall, CREIT’s assets are not like typical commercial buildings that take time to mature and generate a stable rental income.

Since it’s the end of the year, I’m also looking forward to whether CREIT will declare a special dividend from the share of electricity sales of its solar farm tenants. This is because CREIT’s lease contracts comprise of a base rent plus a share of the tenants’ profits above a certain threshold.

Also, PREIT from the Villar Group’s Prime Asset Ventures was officially listed in the Philippine Stock Exchange yesterday. This means CREIT is no longer the sole power related REIT. Which one can grow their assets and dividends faster is what I’m most interested in. We now have 8 listed REITs to invest in and perhaps there will be more IPOs to come in the new year.