MANILA -The Tiu family’s Repower Energy Development Corp. has added another mini-hydro power plant to its portfolio, following the inauguration and commissioning of its 5.8-megawatt (MW) Tibag run-of-river plant in Mauban, Quezon province.
According to the company, the plant is expected to contribute P215 million in Ebitda (earnings before interest, taxes, depreciation and amortization) annually.
It is also estimated to generate 40 gigawatt-hours of energy every year, equivalent to the generation capacity of a 40-MW solar farm or a 20-MW wind farm.
“The Tibag hydropower plant will be a key asset in our goal toward uplifting the living standards of rural and under electrified communities through clean, renewable energy,” said Repower president Eric Peter Roxas.
Repower, a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., said the facility was the seventh of its kind under the company’s portfolio of mini-hydro projects.
At present, Repower has six other hydro facilities in Laguna, Quezon and Camarines Sur provinces with a combined capacity of 10.15 MW.
Repower, which is set to make its Philippine Stock Exchange trading debut on July 24, earlier said it intended to diversify its portfolio by pursuing wind projects, beginning with a 200-MW wind farm in Quezon.
Roxas also said they planned to further grow their renewable energy portfolio in the next five years by building bigger hydropower projects with a potential combined capacity of 1,000 MW.