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Manila Bulletin devider Business devider The Stock Market devider Repower Energy to form new hydro unit in Mindanao expansion

Repower Energy to form new hydro unit in Mindanao expansion

Published Apr 24, 2026 01:15 pm
Repower Energy Development Corp. (REDC) surged ahead with its expansion strategy as the company’s board approved the acquisition of a new subsidiary to spearhead hydropower projects in Mindanao.
In a disclosure to the Philippine Stock Exchange on Friday, April 24, REDC said the renewable energy firm will subscribe to 12.5 million shares in the newly formed Kitaotao Hydropower Corp. for ₱12.5 million.
The transaction will establish Kitaotao Hydropower as a wholly owned subsidiary, providing the parent company with a dedicated vehicle to develop and manage clean energy assets in line with its long-term growth targets.
The capital infusion is intended to provide the startup capital necessary to jumpstart operations for the new entity. The deal remains contingent on the Securities and Exchange Commission approving Kitaotao Hydropower’s application for incorporation.
Once finalized, the unit is expected to help increase Repower’s total generation capacity as the Philippines pushes for a larger share of renewables in its national energy mix.
The move follows a period of aggressive scaling for the developer. Earlier this month, Repower confirmed it is fast-tracking the 4.5-megawatt Piapi hydropower plant, which is slated for completion in 2027. This project is part of a broader pipeline of run-of-river plants that the company has been commissioning to capitalize on the country’s feed-in-tariff system and the rising demand for baseload renewable power.
Repower’s financial health has improved significantly following its ₱1.2 billion initial public offering in 2023. In 2025, the company reported that its net income more than doubled, fueled by the commissioning of new plants and the efficient deployment of IPO proceeds toward capital-intensive projects in Bukidnon and Quezon provinces.
The company has used its cash reserves not only for greenfield developments but also for opportunistic acquisitions within the sector, strengthening its foothold as a pure-play renewable energy operator.
By centralizing its new projects under specialized subsidiaries like Kitaotao, Repower is streamlining its project management and financing structures. This corporate strategy allows the firm to isolate risks associated with individual developments while maintaining a consolidated growth trajectory that has appealed to investors seeking exposure to the Philippine energy transition. (Gabriell Christel Galang)

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renewable energy (RE) Repower Energy Development Corp. (REDC)
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