Repower Energy to put up 200-MW wind farm in Quezon

MANILA, Philippines — Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings Corp., will pursue a wind farm in Quezon after securing the Department of Energy’s clearance to develop the 200-megawatt project.

REDC said the project would cover two wind energy service contracts composed of the Silang Maragondon wind farm, which will cover 2,592 hectares of land, and the Pandan Labayat wind farm, which spans 2,025 hectares of land.

The proposed grid connection for the projects will be the operational Biga Switchyard Station, which is connected to the National Grid Corp. of the Philippines and presently being utilized by three run-of-river hydropower plants that the company operates in the area.

REDC said the development of the wind farm was in line with its mission to provide clean energy and uplift the living standards of rural and under electrified communities.

“We are pleased to expand our energy portfolio beyond run-of-the-river hydropower plants as it would allow us to contribute more towards our nation’s sustainability goals,” REDC president and CEO Eric Peter Roxas said.

“Our wind farms will be built within the vicinity of our hydropower plants. This will allow us to maximize synergies in our operations and logistics, and tap into the transmission lines, switchyard, access roads and other infrastructure developments we own and are already built,” Roxas said.

REDC, which is eyeing to conduct a P1.15-billion initial public offering next month, is gearing up for an aggressive expansion this year.

The company recently entered into a memorandum of agreement with Austria-based Gugler Water Turbines GMBH for the development of a 320-MW seawater-pumped storage project in the country.

Through the partnership, REDC will become the first energy developer in the country to have such project in its portfolio.

REDC will soon add additional operating hydropower plants in its portfolio upon the successful commissioning of the 5.8-MW Tibag hydropower plant and the 1.4-MW Lower Labayat hydropower plant.

The company is also constructing the 15-MW Pulanai and 4.5-MW Piapi mini-hydro projects in Bukidnon and Quezon, respectively.

Both projects are targeted to be operational by 2025.

Offer period for the company’s planned IPO has been moved to June 28 to July 14 from the previous schedule of June 6 to June 16.

The tentative listing date of the shares is eyed on July 24.

Proceeds of the IPO will be used for the company’s expansion plans, such as partially funding the equity portion of Pulanai MHP and Piapi MHP located in Bukidnon and Quezon, respectively, and acquiring other renewable energy projects.