A new era of clean energy dawned in Bukidnon as construction commenced on a substantial hydropower facility, poised to invigorate the Mindanao grid. The project, valued at P6.3 billion, marks a significant step towards bolstering the region’s power supply and fostering sustainable development.
The groundbreaking ceremony, led by REDC’s subsidiary Maramag Hydropower Corp., signaled the official start of work on the 25-megawatt Pulangi IV Hydropower Project. This isn’t a solitary venture; it represents the second in a series of planned hydropower initiatives for the region.
REDC President Eric Y. Roxas emphasized the project’s dual benefit: delivering clean, reliable energy and driving long-term regional growth. The facility is strategically aligned with national energy objectives, promising a more sustainable future for Mindanao.
The company recently solidified its commitment by acquiring a 95% stake in Maramag, the driving force behind the project’s development. This move underscores REDC’s dedication to expanding its renewable energy portfolio.
The Pulangi IV plant will harness the power of the Pulangi River’s downstream flow, complementing REDC’s existing upstream hydropower plant already in operation. Utilizing a proven river system ensures a reliable and consistent energy source.
Upon completion, the project is anticipated to substantially increase Mindanao’s renewable energy capacity, providing a stable and sustainable power supply to surrounding communities. This will empower local economies and improve quality of life.
REDC has committed a total of P10.3 billion to the development of four hydropower facilities, demonstrating a long-term vision for renewable energy leadership. This substantial investment highlights the company’s confidence in the future of hydropower.
Beyond Mindanao, REDC is also advancing the 4.5-MW Piapi hydropower project in Quezon province, targeting commercial operations by the end of 2027. This geographically diverse approach strengthens the company’s overall energy production capabilities.
Recent financial reports reveal a strong upward trajectory for REDC, with a 42% year-on-year increase in net income, reaching P167 million for the first nine months of the year. Revenues also experienced a significant boost, rising 33% to P526.7 million.
This financial success fuels further expansion, as the parent company, Pure Energy Holdings Corp., actively pursues both new developments and strategic acquisitions. The goal is to broaden its reach and solidify its position in the renewable energy sector.
