Businessman Dexter Tiu’s Repower Energy Development Corp. (REDC) is setting up a new subsidiary to operate hydro projects.
REDC disclosed to the stock exchange that its board approved the incorporation
of Baguio Asin Hydropower Corp.
The new subsidiary, with an initial capital of P50 million, will be an addition to the existing REDC group of hydropower companies, namely, Bicol Hydropower Corp., Philippine Power and Development Corp., Majayjay Hydropower Co. Inc., Labayat 1 Hydropower Corp., Tibag Hydropower Corp., Cabanglasan Hydropower Corporation and Piapi Hydropower Corp.
