Repower Energy Development Corporation (REDC), a subsidiary of Pure Energy Holdings Corporation, reported a net income of Php 119.2 million for 2024, as it continues to scale up its hydropower operations in spite of increased operational costs.
The company’s financial results were influenced by higher non-cash expenses associated with the commissioning of two new facilities—the 5.808-megawatt Tibag and the 1.4-megawatt Lower Labayat hydropower plants. Both projects began commercial operations during this year.
“Despite conditions related to the operating environment being a factor in our higher expenses, REDC still finished 2024 on a high note given the continued strong performance of the run-of-the-river hydropower plants in the key markets we operate in,” said Eric Peter Y. Roxas, President and CEO of REDC.
The company is also dramatically accelerating development of its 15-MW Pulanai Hydropower Plant in Bukidnon, which it now expects to commission by the third quarter of 2025—earlier than the initial year-end goal. An uprating is underway that could raise capacity by up to 20 percent.
“With the positive momentum we have continued to experience over the years, REDC shall maintain its aggressive expansion plan for 2025 in order to maximize our potential and yield a stronger topline and bottom line for the benefit of our shareholders,” Roxas added.
REDC’s strategic focus on hydropower is part of its broader commitment to sustainable energy, with plans to enhance both output and operational scale across its project portfolio in the coming year.
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