Repower Energy Development Corp. (REDC), a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., has successfully commissioned its latest renewable energy project, the 5.8 megawatt (MW) Tibag run-of-river hydropower plant.
Situated in Mauban, Quezon, this facility marks the seventh addition to REDC’s growing hydropower portfolio.
REDC anticipates that the Tibag hydro plant will contribute an estimated annual EBITDA of P215 million.
With approximately six months of operation slated until the end of 2023, the plant is projected to significantly drive REDC’s net income growth for the year.
In terms of energy generation, the Tibag hydropower plant is expected to produce over 40 gigawatthours annually. It is equivalent to the energy output of a 40MW solar farm or a 20MW wind farm.
During the construction phase, the plant created employment opportunities for more than 120 individuals. This underscores REDC’s commitment to fostering economic growth and sustainability within local communities.
Eric Peter Y. Roxas, president of REDC, emphasized the pivotal role the Tibag hydropower plant will play in REDC’s mission to enhance the quality of life for rural and underserved communities through clean, renewable energy solutions.