Repower Energy Development Corporation (REDC) said it is acquiring full ownership of the 15.93-megawatt (MW) Tubig Hydropower Plant in Samar as part of efforts to expand its renewable energy portfolio and increase operational capacity.

In a disclosure to the Philippine Stock Exchange dated May 28, REDC said it will purchase 100% of the shares of Taft Hydroenergy Corporation, the owner of the Tubig Hydropower Plant located in the Visayas.

The company said the transaction remains subject to the completion of several closing conditions, including regulatory clearances and lender approvals.

According to the disclosure, the acquisition is valued at approximately PHP 4.925 billion and will be financed through a combination of cash, bank financing, and parent company advances.

REDC said the acquisition will become the company’s 10th operational hydropower plant once completed.

The company also said the transaction is expected to increase its operational hydropower capacity by around 45%.

“The purchase of the 15.93MW Tubig Hydropower Plant which is owned by Taft Hydroenergy Corporation will further grow the portfolio of hydropower plants of the company, and thereby contribute to and increase the company’s income and cash flow,” the company said in the disclosure.

REDC added that the hydropower facility in Samar will continue operating following the acquisition.

The disclosure also showed that shares in Taft Hydroenergy Corporation will be acquired from REDC, Tokai Corporation, and SEEC upon completion of the transaction conditions.

Trading of REDC shares on the Philippine Stock Exchange was temporarily suspended at 2:17 p.m. on May 28 following the disclosure due to the transaction being classified as a substantial acquisition rule event.

REDC, a subsidiary of Pure Energy Holdings Corporation, has been expanding its renewable energy portfolio through a combination of hydropower development, new project investments, and diversification into other clean energy technologies.

In 2025, the company disbursed PHP 280.8 million from its IPO proceeds to advance hydropower projects in Bukidnon and Quezon. Early this month, it made a move to establish a new subsidiary focused on developing solar, wind, biomass, tidal, geothermal, and hydropower projects.

As renewable energy demand continues rising, will more developers pursue acquisitions of operational power assets to accelerate portfolio growth?

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