A surge of clean energy is flowing into the Philippines as Repower Energy Development Corp. secures a significant foothold in Bukidnon province. The company is investing P6.3 billion to acquire a controlling 95% stake in Maramag Hydropower Corp., the entity behind the 25-megawatt Pulangi IV hydropower facility.
This isn’t Repower’s first venture along the powerful Pulangi River. The company recently brought online the 18.2-MW Pulangi plant, a testament to the river’s untapped potential for sustainable power generation, serving cities like Valencia and San Fernando.
According to Repower President Eric Y. Roxas, this strategic acquisition isn’t just about megawatts; it’s about responsible development. He emphasized a commitment to providing reliable energy while simultaneously fostering positive change within the local communities of Bukidnon.
The Pulangi IV project represents a key component of Repower’s ambitious expansion plans. The company has already allocated P10.3 billion for the development of four hydropower facilities across the nation, signaling a major push towards renewable energy independence.
Beyond Bukidnon, Repower is actively constructing the 4.5-MW Piapi hydropower project in Quezon province, aiming for commercial operation by the close of 2027. This diverse portfolio demonstrates a commitment to both building new facilities and strategically acquiring existing ones.
The company’s growth is already reflected in its financial performance. Repower Energy reported a substantial 42% increase in net income, reaching P167 million, for the first nine months of the year. Revenues also experienced a healthy 33% rise, totaling P526.7 million.
Despite the positive financial news, market activity on Wednesday saw Repower Energy’s share price close at P6.60, a decrease of P0.32 or 4.62%. This fluctuation occurs amidst a broader landscape of investment and expansion within the Philippine renewable energy sector.
