REIT ASIAPAC
We ’ re always open to opportunities to diversify . We look for land that is currently not prime . These are outside top tier cities but next wave growth cities where , in the next 10 to 12 years , we expect development .
We also pioneer the agro-solar concept where we look for underutilized agricultural land and coexist the solar aspect with the agriculture so that we don ’ t dislocate local farmers . We plant high-value crops beneath solar tables .
Q5
Are you also looking at diversifying to offshore renewable assets in the medium to long term ?
We are always open to opportunities offshore but as of the moment , we are focused on the opportunities in the country , given our 1.5-gigawatt ( GW ) roadmap .
Q6
How does your investor profile look post-IPO ?
We have a healthy and balanced investor profile . We have institutional funds . We also have great participation from the retail market . In terms of the breakdown , our foreign investor
Clark Solar Plant
Q3 coverage is 10 % of the IPO offer size . For foreign investors , these are mostly Asian – from Hong Kong , Malaysia etc . We would want to retain this healthy mix . As we continue the growth of our asset portfolio , this can naturally increase the appeal of the REIT , and we expect the proportion of foreign investors to increase from 10 %.
Investors from the European Union also have a very strong mandate to invest in ESG-related trusts . We hope to attract these investors moving forward .
Q7
Do you think the market has space for more REITs that are focused on renewable energy ?
Toledo , Cebu Solar Plant
We are the first energy REIT to be listed in the Philippine Stock Exchange . The Secretary for the Department of Finance , as well as the Philippine Stock Exchange ( PSE ) and the Securities and Exchange Commission ( SEC ), were quite supportive of CREIT and its unique asset class , which is land that is leased out to solar farm operators . This makes CREIT truly an ESG-approved investment .
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