Repower Energy Development Corporation (REDC) has expanded its footprint in Bukidnon with the acquisition of a 95% equity stake in Maramag Hydropower Corporation (MHC), developer of the proposed 25 MW Pulangi IV hydropower project. The move strengthens REDC’s growing cluster of hydro assets along the Pulangi River as it builds out more renewable capacity for Mindanao.

The PHP 6.3-billion Pulangi IV development sits downstream of the same river system used by REDC’s new 18.2 MW Pulangi plant located between Valencia and San Fernando. REDC completed the transaction through the purchase of 32,192,001 common shares of MHC valued at around PHP 32 million.

“Our acquisition of MHC’s Pulangi project marks our second investment in the area, and a significant step in REDC’s mission to expand clean, renewable, and indigenous hydropower for Mindanao,” said Eric Y. Roxas, President of REDC, in an official statement. The company emphasized that the Pulangi River offers long-term, locally sourced energy potential.

Roxas added, “Harnessing the Pulangi River’s potential through responsible hydropower development allows us to deliver dependable energy generation, while creating meaningful opportunities for the communities of Bukidnon.” The company sees the project as both a technical investment and a community-aligned initiative for the province.

How can Mindanao further accelerate hydropower expansion to strengthen its renewable energy corridor?

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