Local renewable energy developer Repower Energy Development Corp. (REDC) reported a strong financial performance for the first nine months of the year, posting a 33 percent increase in revenues to ₱526.7 million from ₱396.6 million in the same period last year.
On Wednesday, REDC said its net income more than doubled to ₱226.1 million, marking a 110 percent year-on-year jump from ₱107.7 million in 2023.
The company attributed its robust performance to favorable weather conditions, improved operational efficiency of its hydropower plants, and tighter cost controls. It noted that strict adherence to standard operating procedure helped boost plant output and maintain consistent performance across its portfolio.
REDC, the hydropower arm of Pure Energy Holdings Corp., operates several run-of-river hydropower facilities across the country, including the 5.808 MW Tibag, 3.456 MW Upper Labayat, and 1.4 MW Lower Labayat plants in Quezon Province; the 1.6 MW Inarihan plant in Bicol; and the 0.3 MW Calibato, 2.19 MW Majayjay, 1.5 MW Palakpakin, and 1.1 MW Balugbog plants in Laguna.
The company said it remains focused on expanding its renewable energy footprint and optimizing existing assets as part of its contribution to the country’s clean energy transition.
