Repower Energy Development Corporation (REDC), a subsidiary of Pure Energy Holdings Corporation, announces the successful commissioning of its 5.8-megawatt Tibag run-of-river hydropower plant located in Mauban, Quezon. The plant is the 7th of its kind under REDC’s hydropower portfolio.
The company said the plant will contribute P215 million in EBITDA annually. With around six months of operation up until the end of 2023, the plant is seen a significant driver to REDC’s growth in net income for the year.
The Tibag hydropower plant’s annual energy generation is seen over 40 gigawatt-hour, equivalent to the generation of a 40-megawatt solar farm or a 20-megawatt wind farm. In addition, the plant provided jobs to over 120 personnel during the construction period.
“We are pleased to mark the successful commissioning of our newest hydropower plant as this is another milestone for us in expanding our footprint in the renewable energy sector,” Eric Peter Y. Roxas, president of REDC, said.
“The Tibag hydropower plant will be a key asset in our goal towards uplifting the living standards of rural and under electrified communities through clean, renewable energy.”
In addition, REDC is expected to make an announcement soon on its 8th hydropower plant, the 1.4 MW Lower Labayat plant, which will come online as soon as NGCP energizes the transmission line from the powerhouse in the next few weeks.
In line with its commitment to rural and under electrified communities, REDC ensured that the 15 kilometers of access roads and a bridge it built for the Tibag hydropower plant will be used by the indigenous communities who live there. Now, the Dumagat tribe can bring copra, fruits, and livestock to the market. They can also bring their children to school in a much safer manner compared to crossing the river by raft since time immemorial.
“Our commitment to sustainability is not just about clean energy nor limiting the possible adverse impact of our operations to stakeholders. It also extends to ensuring that communities will get to benefit from the farm to market roads we have built,” Roxas said.
“Corporations have fiduciary responsibilities beyond that to their shareholders, and this principle will remain a key part of how we do business.”
