Repower Energy Development Corp. (REDC) is expanding its footprint in the Visayas through a joint ₱3.9 billion transaction to acquire a major hydropower facility, according to a stock exchange filing on Thursday, May 28.

The renewable energy developer, alongside Tokai Corp. and Sustainable Energy Enterprise Corp., entered into an agreement to acquire Taft Hydroenergy Corp., which operates the 15.93-megawatt Tubig Hydropower Plant in the Visayas region.

Under the terms of the transaction, REDC and Tokai will each acquire 520 million shares, while Sustainable Energy Enterprise will take up 260 million shares. The combined acquisition totals 1.3 billion shares from Taft Hydroenergy’s existing stockholders, contingent upon customary closing conditions.

The transaction is part of REDC’s aggressive scaling up of its capacity as the Philippines seeks to increase the share of clean energy in its national grid. The addition of the Tubig facility will bring REDC’s total portfolio of operational hydropower assets to 10. The company expects the acquisition to boost its total operational capacity by approximately 45 percent, providing an immediate lift to long-term revenue and cash flow.

The Visayas acquisition follows a string of expansion initiatives by the clean-energy builder. REDC earlier announced a ₱12.5 million deal to purchase Kitaotao Hydropower Corp., a move that will transform the target entity into a direct subsidiary.

The company is also advanced in its construction pipeline. Its 4.5-megawatt Piapi hydropower project in Quezon province is on track for completion next year. This follows the successful commissioning of its first run-of-river project in Mindanao in 2025, an asset projected to generate 130 gigawatt-hours of electricity annually.

The capital deployment into generation assets in Bukidnon and Quezon has begun to yield financial returns. Repower Energy’s net income climbed to ₱330 million last year, driven by higher output from newly commercialized plants.