Repower Energy Development Corp., a listed renewable energy company, said it has turned over P241.1 million to the elders of the Dumagat Tribe in Quezon as the indigenous people’s share in the earnings of one of run-of-river power plants within its ancestral lands.
REDC, a subsidiary of Pure Energy Holdings Corp., has three operating hydropower plants in Quezon Province. It said that by next year, a large percentage of the earnings from the power plants will be turned over to the Dumagat Tribe as part of the agreement it signed with the them.
“Having the Dumagat tribe financially benefit from our operations will allow them to have additional financial resources to address the needs of their communities,” REDC president and chief executive officer Peter Roxas said.
“This arrangement will also reinforce our commitment with the Dumagat tribe, given their long-term welfare will now become a bigger factor into the long-term strategy we will pursue for our hydropower plants,” he added.
Aside from providing a share in the earnings of the power plants, REDC is also providing scholarships to young Dumagat tribesmen, with four going to college this year to study business administration, nursing and education.
“By helping students get a college degree, we are providing them a ladder towards a fruitful professional career for themselves and their loved ones,” said Roxas
