Fresh capital from the listing will allow Citicore, which has an installed capacity of 241 megawatts via solar panels, to invest $800 million this year to increase output to 1 gigawatt (GW), and around $4 billion to reach 5 GW within five years, Tan said.

Citicore is also pursuing seven offshore wind projects with a total capacity of 3 GW.

Philippines’ Citicore prepares for IPO, to invest $4 billion in renewable energy | MarketScreener