Repower eyes 1,000-MW new hydropower projects
MANILA -Repower Energy Development Corp., the soon-to-list power firm of the Tiu family, plans to grow its renewable energy portfolio in the next five years by building hydro power projects with a potential combined capacity of 1,000 megawatts (MW).
Repower Energy president Eric Peter Roxas explained that while hydro plants required more capital and were therefore more costly to develop, “the returns on investment can be massive for their bottom line, and recurring income can last up to 100 years or more.”
“There’s a lot of nature involved, [like] passing through mountains [and] building headrace canals. It’s not for the faint of heart. But once you build it, the continuous flow of the rivers will keep it running for the next 25 to 50 years,” he said in a recent television interview.
Roxas added that the company’s three run-of-river plants were proof of the efficiency of hydro power, as these plants were still “going strong” despite nearing 100 years of operations.
Repower Energy, a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., recently got approval from the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission to raise as much as P1.15 billion through an initial public offering (IPO) in June.
The company is selling up to 200 million shares at a maximum offer price of P5 per share to raise P1 billion for its existing power projects.
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