Repower Energy Development Corporation (REDC) has approved the creation of a wholly-owned subsidiary focused on hydropower development, backed by a PHP 12.5 million capital subscription.

In a disclosure to the Philippine Stock Exchange dated April 24, the company said its board of directors approved the subscription to the capital stock of Kitaotao Hydropower Corporation (KHC), which will serve as a dedicated vehicle for the development and operation of hydropower projects.

KHC will be a 100% owned subsidiary of REDC and is intended to further the company’s existing renewable energy business.

Under the plan, REDC will subscribe to 12.5 million shares in KHC, with a par value of PHP 1 per share, amounting to a total investment of PHP 12.5 million.

The formation of the subsidiary remains subject to the approval of the Securities and Exchange Commission for its incorporation.

The move signals REDC’s continued push to expand its renewable energy portfolio, with hydropower identified as a key area for growth.

How significant is hydropower in expanding renewable energy portfolios in the Philippines?

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