Repower Energy Development Corp. (REDC) said Wednesday its wholly-owned subsidiary Cabanglasan Hydropower Corp. has commenced testing and commissioning of its 18.2-megawatt (MW) run-of-river hydropower plant at the border of the City of Valencia and San Fernando in Bukidnon.
The P4-billion facility, situated along the Pulangi River, marks REDC’s ninth operating hydropower plant and its first in Mindanao. It is expected to generate an average of 130 GWh of power annually, which is enough to power over 54,000 homes with clean, renewable energy throughout the province once commercially operating.
REDC funneled the bulk of its initial public offering proceeds, conducted last 2023, into the project, which employed over 900 construction personnel during its build-out.
The announcement coincided with strong financial results for the renewable energy developer. REDC’s net income in the first nine months of 2025 jumped 110 percent year-on-year to P226.1 million from P107.7 million.
Revenues reached P526.7 million in the three quarters, a 33-percent increase from P396.6 million in the prior year period.
Third-quarter net income climbed to P74 million versus P11 million in the third quarter of 2024. Quarterly revenues reached P167 million, up 43 percent year-on-year.
The company attributed the strong performance to “better weather conditions, adherence to standard operating procedures, leading in turn to higher operational efficiency in its existing hydropower plants and tighter overhead cost control.”
REDC has ongoing construction in the 4.5 MW Piapi hydropower project located in Quezon province, targeting completion by the end of 2027. The company will also commence construction on four more hydropower projects in the coming months with a total capital expenditure budget of P10.3 billion.
REDC is a subsidiary of Pure Energy Holdings Corp., an investment holding company that engages primarily in renewable energy generation and water system management and distribution.
