Repower Energy Development Corporation (REDC) has acquired Philippine Power and Development Company (Philpodeco) and three of the country's oldest operating mini-hydropower plants.
REDC is reported to be carrying out a major overhaul of the facilities and is set to invest millions for the thorough renewal of the structural and civil works at Balugbog, Calibato and Palapakin hydro plants. Hydropower generation is set to increase by more than four-fold, generating over 11GWh annually.
“The beauty of these plants is that you know that the system has been operating for the last 88 years, and with the current hydrology study completed, it will still be productive for the next 100," said Dexter Tiu, REDC chief executive.
