• June 15, 2023 - Repower to build wind farm in Quezon

    MANILA -The Tiu family’s renewable energy firm Repower Energy Development Corp. is set to construct its first wind farm in Quezon province in a bid to diversify its portfolio that currently consists of hydro power plants.

    Repower, a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., said it had secured the Department of Energy’s clearance to pursue a 200-megawatt (MW) wind farm that would cover two service contracts.

    The first project, the Silang Maragondon Wind Farm, will sit on a 2,592-hectare (ha) piece of land, while the Pandan Labayat Wind Farm will cover 2,025 ha of land.

    Both will be connected to the national grid through the Biga Switchyard Station, which is currently being utilized by three of Repower’s run-of-river hydro projects.

    “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,” Repower president and chief executive officer Eric Peter Roxas said in a statement on Wednesday.

    The facilities are Repower’s first wind projects, as its portfolio presently consists of six mini hydro power plants in the provinces of Laguna, Quezon and Camarines Sur with a combined capacity of 10.15 MW.

    Repower recently inked a memorandum of agreement with Austria-based Gugler Water Turbines GMBH for the development of a 320-MW seawater-pumped storage project, the first of its kind in the country.

    It has also commissioned the 5.8-MW Tibag and the 1.4-MW Lower Labayat hydro power plants, while the 15-MW Pulanai and the 4.5-MW Piapi hydro projects are currently under construction and are set to begin commercial operations in 2025.

    Full article here

  • June 15, 2023 - Repower Energy secures DoE nod for 200-MW wind projects

    REPOWER Energy Development Corp. has secured clearance from the Department of Energy (DoE) to develop its 200-megawatt (MW) wind energy projects in Quezon province.

    “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,” Eric Peter Y. Roxas, president and chief executive officer of Repower Energy, said in a media release on Wednesday.

    The energy company said the development will cover two wind energy service contracts, which it said is in line with its ambition to provide clean energy to rural communities without electricity.

    “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,” Mr. Roxas said.

    Repower Energy said the projects will cover about 2,592 hectares of land for the Silang Maragondon wind farm and around 2,025 hectares for the Pandan Labayat wind farm.

    “The wind farms are also strategically located as they are facing the Pacific Ocean, allowing us to fully harness the sea breeze,” Mr. Roxas said.

    Repower Energy is aiming to expand its installed energy capacity by 1 gigawatt in the next five years. The company’s energy portfolio is focused on hydropower projects.

    The energy company, which is a subsidiary of Pure Energy Holdings Corp., has recently signed a memorandum of agreement with Austria-based Gugler Water Turbines GMBH to develop seawater pumped storage projects in the Philippines.

    It plans to list on the Philippine Stock Exchange tentatively on July 24.

    Full article here

  • June 15, 2023 - RE firm readies 200MW wind projects in Quezon

    Pure Energy Holdings Corp. said its subsidiary, Repower Energy Development Corp. (REDC) is set to pursue 200 megawatts (MW) of wind farms in Quezon Province.

    The company said the two wind energy service contracts are the Silang Maragondon wind farm tcovering 2,592 hectares of land and the Pandan Labayat wind farm covering 2,025 hectares.

    REDC said the proposed grid connection for these projects will be the Biga switchyard station which is connected to the National Grid Corporation of the Philippines and currently being utilized by three run-of-river hydropower plants the company operates in the area.

    “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… 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,” said Eric Peter Roxas, REDC president and chief executive officer, in a statement.

    Roxas said the wind farms are strategically located facing the Pacific Ocean to fully harness the sea breeze.

    Full article here

  • June 15, 2023 - RE developer to build wind power projects in Quezon

    The Department of Energy recently awarded two wind energy service contracts to Repower Energy Development Corp. (REDC).

    The subsidiary of Pure Energy Holdings Corp. said on Wednesday it will pursue 200-megawatt (MW) wind farm power projects in Quezon. These are the Silang Maragondon Wind Farm, which will cover 2,592 hectares of land, and the Pandan Labayat Wind Farm, which will cover 2,025 hectares of land.

    The proposed grid connection for these projects will be the operational Biga Switchyard Station, which is connected to the National Grid Corporation of the Philippines and presently being utilized by 3 run-of-river hydropower plants that REDC operates in the area.

    “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 Chief Executive Officer Eric Peter Roxas said in a statement.

    He said the proposed wind farm projects will be built within the vicinity of the company’s 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.”

    The wind farms are also strategically located as they are facing the Pacific Ocean, allowing it to fully harness the sea breeze.

    Earlier, REDC announced the signing of a Memorandum of Agreement with Austria-based Gugler Water Turbines GMBH (Gugler) for the development of a 320MW seawater-pumped storage project in the country. REDC also announced the upcoming commissioning of its 5.8MW Tibag hydropower plant and the 1.4MW Lower Labayat hydropower plant.

    Moreover, REDC is currently building the 15MW Pulanai micro hydropower (MHP) project in Bukidnon and 4.5MW Piapi MHP project in Quezon. Both of these projects are targeted to be operational by 2025.

    REDC posted a net income of P168 million in 2022. The company is looking at a net income of “close to P300 million” this year.

    The renewable energy (RE) developer has six operating plants in Laguna, Quezon, and Camarines Sur provinces.

    Full article here

  • June 14, 2023 - Repower Energy developing 200-MW wind farm in Quezon

    Repower Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., said Wednesday it is developing a 200-megawatt wind farm in Quezon province.

    “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 chief executive 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.

    The project will cover two wind energy service contracts in line with REDC’s mission to provide clean energy and uplift the living standards of rural and under-electrified communities.

    It involves the Silang Maragondon wind farm which will cover 2,592 hectares of land and the Pandan Labayat wind farm which span 2,025 hectares.

    The proposed grid connection for the projects will be the operational Biga Switchyard Station, which is connected to the National Grid Corporation of the Philippines.

    The Biga substation is being utilized by three run-of-river hydropower plants that REDC operates in the area.

    “The wind farms are also strategically located as they are facing the Pacific Ocean, allowing us to fully harness the sea breeze,” Roxas said.

    REDC said 2023 marks a busy period of expansion for the company. It signed 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.

    This would make REDC the first energy developer in the Philippines to have this project in its portfolio.

    The company will also soon add to its seventh and eighth operating hydropower plants in its portfolio with the 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 mini hydropower project in Bukidnon and the 4.5-MW Piapi MHP project in Quezon. Both projects are targeted to be operational by 2025.

    REDC posted a net income of P168 million in 2022 and expects 2023 net income to reach P300 million.

    Full article here

  • June 14, 2023 - REDC gets DoE nod for 200-MW wind farm

    Repower Energy Development Corporation or REDC has secured the approval of the Department of Energy to formally start a 200-MW wind farm development in Quezon province that would require as much as $400 million (or about P22.4 billion at current exchange rate) in capital investment.

    The company announced on Wednesday that it was granted two Wind Energy Service Contracts that allow it to expand its energy portfolio beyond run-of-the-river or ROR hydropower plants.

    The contracts are for the 2,592-hectare Silang Maragondon Wind Farm and 2,025-hectare Pandan Labayat Wind Farm.

    Grid connection

    The proposed grid connection for these projects will be the operational Biga Switchyard Station, which will then be connected to the main grid.

    In terms of cost, the REDC said the project would require about $2 million for every MW.

    “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,” REDC president and CEO Eric Peter Y. Roxas said.

    Industry-first projects

    REDC recently announced its plan to develop industry-first seawater pumped storage projects with Austria-based Gugler Water Turbines GMBH to help augment clean power in Luzon.

    The company did not disclose the cost and specific locations for the projects, but noted that the first one under the partnership will be a

    320-MW seawater-pumped storage facility in Luzon.

    Thus, it is securing the necessary endorsements from the local government units and indigenous communities to commence the development of a pilot 50-MW facility.

    IPO launch

    REDC is set to launch an initial public offering or IPO covering 200 million primary common shares for up to P5 per share — with an over-allotment option for the sale of up to 30 million common shares.

    It aims to raise funds from the public to bankroll the construction of its projects like the Pulanai MHP project in Bukidnon and the Piapi MHP project in Quezon Province.

    Full article here

  • June 14, 2023 - IPO prospect REDC bags clearance to develop Quezon wind farm

    MANILA, Philippines — Repower Energy Development Corp. (REDC) obtained the Department of Energy’s clearance to develop a 200-megawatt wind farm in Quezon.

    In a statement on Wednesday, REDC indicated that this move will cover two wind energy service contracts. The wind farms will be facing the Pacific Ocean, which will allow greater energy production owing to sea breeze.

    “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,” said Eric Peter Y. Roxas, president and CEO of REDC.

    The Pure Energy Holdings Corp. subsidiary noted the projects will be the Silang Maragondon Wind Farm (2,592 hectares) and the Pandan Labayat Wind Farm (2,025 ha).

    REDC said the proposed grid connection will be the existing Biga switchyard station, which is already connected to the National Grid Corporation of the Philippines. As it is, REDC already uses this for its three run-of-river hydropower plants in the area.

    That said, the Philippine Stock Exchange already approved REDC’s application for initial public offering back in May. REDC will be offering 200 million primary common shares, with an overallotment option of up to 30 million secondary shares.

    The shares will be sold in its market debut at P5 apiece.

    Proceeds from the IPO will be used to fund the equity portion of its Pulanai and Piapi mini hydroelectric power plants and the acquisition of renewable energy projects.

    Full article here

  • June 14, 2023 - Renewable energy boost: Dexter Tiu’s REDC gets green light for 200MW wind farm in Quezon

    Repower Energy Development Corp. (REDC), led by entrepreneur Dexter Tiu, has received the green light from the Department of Energy (DOE) to proceed with the development of a 200-megawatt wind farm in Quezon province.

    The DOE has awarded two wind energy service contracts to REDC for the Silang Maragondon Wind Farm and the Pandan Labayat Wind Farm.

    Spanning over vast land areas of 2,592 hectares and 2,025 hectares respectively, these projects will contribute significantly to the renewable energy landscape.

    To ensure efficient grid connectivity, REDC has identified the operational Biga switchyard station as the proposed connection point. This station is currently utilized by three run-of-river hydropower plants operated by REDC in the same region.

    With the wind farm projects underway, REDC aims to harness the region’s abundant wind resources and contribute to the country’s renewable energy goals.

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

    “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,” he added.

    Full article https://bilyonaryo.com/2023/06/14/renewable-energy-boost-dexter-tius-redc-gets-green-light-for-200mw-wind-farm-in-quezon/power/#gsc.tab=0

  • June 3, 2023 - Repower to pioneer seawater pumped energy storage in the Philippines

    Repower Energy Development Corporation is pioneering the use of seawater pumped energy storage projects in the Philippines.

    The Makati-based renewable energy developer announced on June 1 that it signed a memorandum of agreement with Gugler Water Turbines GMBH, a turbine technology company based in Austria for projects involving seawater pumped storage hydroelectricity.

    Seawater pumped storage utilizes the potential energy of seawater. It involves pumping seawater from a lower reservoir to a higher reservoir during periods of low energy demand and excess electricity generation. The stored seawater is released during periods of higher demand and flows down through turbines to generate electricity.

    The Philippine government has set a goal to raise the proportion of renewable energy in its power generation mix to 35 percent by 2030. To help accomplish this objective and establish a consistent and sustainable energy supply for the nation, the utilization of seawater pumped storage in combination with renewable energy sources will play a significant role.

    The first of Repower’s seawater pumped energy storage projects will be in the Luzon region and aim to generate 320 megawatts of power. The company has determined the required elevation for the higher reservoir to be approximately 300 meters above sea level. Meanwhile, the lower reservoir will be at the coastline for limitless intake of seawater.

    The company is already eyeing a specific location in Luzon for the project and is working with the local government and indigenous communities there to establish a pilot facility that can generate 50 megawatts.

    Full article here

  • June 2, 2023 - REDC, Austrian firm to develop pumped storage hydro power plants

    Repower Energy Development Corporation (REDC) has signed a Memorandum of Agreement (MOA) with Austria-based Gugler Water Turbines GMBH for the development of seawater pumped storage projects at several designated sites around the Philippines.

    In a statement, REDC said this partnership will bring this proprietary technology to the country, allowing REDC to be the first energy developer to have seawater pumped storage projects in its portfolio.

    The first project will be a 320MW seawater-pumped storage facility in the Luzon region. The elevation of this project will be around 300 meters above sea level, and the lower reservoir will utilize the coastline for unlimited seawater intake.

    REDC has identified an area in Luzon for the development of this project. The company is currently securing the necessary endorsements from the LGU and indigenous communities so that the development of a pilot 50 MW facility can push through.

    “We are pleased to enter into a partnership with Gugler — a leading provider of state-of-the art turbine technology,” REDC President and CEO Eric Peter Y. Roxas said.

    He added that, “We are looking to replicate Gugler’s success in a similar venture it has in South Korea, to further our ultimate goal of uplifting living standards to communities by providing clean energy.”

    “The year 2023 promises to be full of potential for REDC, given our ongoing construction of various run-of-the-river hydropower projects in provinces such as Bukidnon and Quezon,” Roxas noted.

    He said “This Agreement will allow us to diversify the services we provide, thus enabling us to enhance our capabilities as an emerging player in the hydropower space.”

    In Asia, Gugler is the technology partner of Korea Midland Power Co. — which operates the Shinseocheon Seawater Hydropower Plant based in South Korea.

    According to DOE officials, they are currently working on a Green Energy Auction Program – 3 (GEAP-3) for hydropower pumped storage and geothermal to be scheduled for the fourth quarter of 2023, as the department still needs to develop a specific auction policy and guidelines for it.

    “The most feasible and [most cost-efficient] energy storage system is still pumped storage hydro,” DOE’s Assistant Secretary Mylene C. Capongcol said at an energy forum.

    Full article here

  • June 2, 2023 - REDC to pioneer Seawater pumped energy storage tech in PH

    Repower Energy Development Corporation (REDC) has secured a partnership with an Austrian turbine technology provider, making them the pioneer in seawater-pumped storage projects in the country.

    Repower, a subsidiary of Pure Energy Holdings Corporation, said that their agreement with Gugler Water Turbines GMBH will facilitate the development of seawater-pumped storage projects at multiple selected locations in the Philippines.

    The government’s objective is to raise the proportion of renewables in the power generation mix to 35% by 2030. While conventional pumped hydro storage has proven effective for other countries transitioning to renewable energy (RE), seawater as an energy storage medium is recognized as a better option for integrating RE into the grid system and ensuring reliable power supply during peak demand periods.

    Gugler, the technology partner of Korea Midland Power Corporation, has collaborated on the Shinseocheon Seawater Hydropower Plant in South Korea.

    REDC company president and CEO Eric Peter Roxas expressed that the partnership with Gugler is aligned with their mission of improving living standards in communities through the provision of renewable energy, adding that they’re looking to replicate Gugler’s success in its venture in South Korea.

    Repower’s initial project will involve constructing a 320 MW seawater-pumped storage facility in the Luzon region. This project will be located 300 meters above sea level, and the lower reservoir will utilize the coastal area for continuous seawater intake.

    An area on Luzon Island is eyed for the development of the said project.

    The company is actively obtaining endorsements from the local government unit (LGU) and indigenous communities to facilitate the development of a 50 MW facility.

    Repower has set its sights on going public this year to secure funding for the equity portion of its 19.5 MW hydropower projects and to expand its portfolio through the acquisition of additional renewable energy projects.

    Full article here

  • June 2, 2023 - Repower Energy, Austrian firm Gugler forge deal for seawater pumped storage

    REPOWER Energy Development Corp. has signed an agreement with Austria-based Gugler Water Turbines GMBH to develop seawater pumped storage projects in the Philippines.

    “We are pleased to enter into a partnership with Gugler — a leading provider of state-of-the-art turbine technology,” Eric Peter Y. Roxas, president and chief executive officer of Repower Energy, said in a media release on Thursday.

    Repower Energy, a subsidiary of Pure Energy Holdings Corp., said the memorandum of agreement with Gugler aims to bring seawater pumped storage technology into the country.

    “We are looking to replicate Gugler’s success in a similar venture it has in South Korea, to further our ultimate goal of uplifting living standards to communities by providing clean energy,” Mr. Roxas said.

    He said the agreement will allow the company to diversify its “capabilities as an emerging player in the hydropower space.”

    The energy company said its first project will be a 320-megawatt (MW) seawater pumped storage facility in Luzon.

    It added that the elevation of the project will be around 300 meters above sea level, utilizing a lower reservoir for unlimited seawater intake.

    Repower Energy said it is now working on securing the necessary endorsement to push through with the project with an initial development of a 50-MW facility.

    “The year 2023 promises to be full of potential for [Repower Energy], given our ongoing construction of various run-of-the-river hydropower projects in provinces such as Bukidnon and Quezon,” Mr. Roxas said.

    Repower Energy is planning to expand its installed energy capacity by 1 gigawatt in the next five years, with its portfolio mainly focusing on hydropower projects.

    The energy company is looking to raise about P1.5 billion through an initial public offering (IPO). It secured clearance from the Philippine Stock Exchange on May 15 for its IPO plan.

    Repower Energy is set to offer 200 million primary common shares at a maximum offer price of P5 apiece, with an over-allotment option of up to 30 million shares.

    Full article here

  • June 2, 2023 - REDC, Gugler to develop pumped storage facility

    Repower Energy Development Corp. (REDC) and Austria-based Gugler Water Turbines GMBH (Gugler) have teamed up to develop seawater pumped storage projects.

    The subsidiary of Pure Energy Holdings Corp. said Thursday that it has signed a Memorandum of Agreement (MOA) with Gugler to bring this proprietary technology to the country, allowing REDC to be the first energy developer to have seawater pumped storage projects in its portfolio.

    The first project will be a 320-megawatt (MW) seawater-pumped storage facility in Luzon. The elevation of this project will be around 300 meters above sea level, and the lower reservoir will utilize the coastline for unlimited seawater intake.

    REDC has identified an area in Luzon for the development of this project. It, however, did not divulge yet the exact location. The company is currently securing the necessary endorsements from the local government unit and indigenous communities so that the development of a pilot 50 MW facility can push through.

    “We are pleased to enter into a partnership with Gugler — a leading provider of state-of-the art turbine technology. We are looking to replicate Gugler’s success in a similar venture it has in South Korea, to further our ultimate goal of uplifting living standards to communities by providing clean energy,” said REDC President Eric Peter Y. Roxas.

    He added that the MOA will allow REDC to diversify and enhance its capabilities as an emerging player in the hydropower space.

    “The year 2023 promises to be full of potential for REDC, given our ongoing construction of various run-of-the-river hydropower projects in provinces such as Bukidnon and Quezon,” said Roxas.

    In Asia, Gugler is the technology partner of Korea Midland Power Co., which operates the Shinseocheon Seawater Hydropower Plant based in South Korea.

    REDC has 6 operating power plants in Laguna, Quezon and Camarines Sur. Two more power plants will come online by June 2023, increasing the company’s operational capacity by over 60 percent.

    The company earlier said it has set its sights on “growing another 1,000 megawatts in its portfolio, concentrated on hydropower projects, possibly upstream and downstream of existing power plants and seawater pump storage” in the next 5 years.

    Roxas said hydropower is one of the most efficient types of renewable energy compared to solar power plants whose efficiency is around 12.7 percent, while wind power plants have an efficiency of around 33 percent.

    “Our hydropower plants, which we were operating for the past 7 years, have a capacity factor [efficiency] of around 72 percent. We have a very high plant factor and good hydrology,” Roxas said, adding that its hydropower plants offer cheaper rates.

    “For example, the wholesale market is doing P8 to P9 because of the high oil prices. We are stable at around P5.87. Solar [is around] P8 to P9 per kilowatt-hour.”

    The company is expecting a net income of P300 million this year from P168 million posted last year.

    Full article here

  • June 2, 2023 - Repower eyes to build seawater hydropower plant

    Repower Energy Development Corp. (REDC) plans to put up a saltwater energy plant in the Philippines, tapping into Austrian technology.

    The company, which is in the mid of a P1.15-billion initial public offer (IPO), said its unit Pure Energy Holdings Corp. signed a memorandum of agreement (MOA) with Austria-based Gugler Water Turbines GMBH for the development of seawater pumped storage projects for a seawater hydropower plant at several designated sites around the Philippines.

    Gugler is the technology partner of Korea Midland Power Co. which operates the Shinseocheon Seawater Hydropower Plant in South Korea.

    “This partnership will bring this proprietary technology to the country, allowing REDC to be the first energy developer to have seawater pumped storage projects in its portfolio,” the company said.

    The company is initially looking at a 320 megawatts (MW) seawater-pumped storage facility in Luzon, which will have an elevation of 300 meters above sea level.

    Full article here

  • June 2, 2023 - REDC, Gugler ink clean power deal

    Repower Energy Development Corporation or REDC, a subsidiary of Pure Energy Holdings Corporation, will develop industry-first seawater pumped storage projects with an Austria-based company to help augment clean power in Luzon.

    The company announced on Thursday that it signed a memorandum of agreement for said developments with Gugler Water Turbines GMBH.

    “We are pleased to enter a partnership with Gugler — a leading provider of state-of-the-art turbine technology. We are looking to replicate Gugler’s success in a similar venture it has in South Korea, to further our ultimate goal of uplifting living standards to communities by providing clean energy,” REDC president and CEO Eric Peter Roxas.

    First project

    REDC did not disclose the cost and specific locations for the developments but noted that the first project under the partnership will be a 320-megawatt seawater-pumped storage facility in Luzon.

    The elevation of this project will be around 300 meters above sea level, and the lower reservoir will utilize the coastline for unlimited seawater intake.

    The company is currently securing the necessary endorsements from the LGU and indigenous communities to commence the development of a pilot 50 MW facility.

    In Asia, Gugler is the technology partner of Korea Midland Power Co. — which operates the Shinseocheon Seawater Hydropower Plant based in South Korea.

    Currently, the Department of Energy is working on the Green Energy Auction Program 3 for hydropower pumped storage and geothermal, which will be scheduled for the last quarter of the year.

    Energy Assistant Secretary Mylene C. Capongcol even described pumped storage hydro as “the most feasible and most cost-efficient energy storage system.”

    PSE, SEC okay secured

    REDC has secured the approvals of the Philippine Stock Exchange and Securities and Exchange Commission to launch an initial public offering or IPO.

    It plans to offer 200 million primary common shares for up to P5 per share — with an over-allotment option for the sale of up to 30 million common shares.

    REDC aims to raise funds from the public to bankroll the construction of its projects like the Pulanai MHP project in Bukidnon and the Piapi MHP project in Quezon Province.

    Full article here

  • June 1, 2023 - Coming to the Philippines: Seawater pumped energy storage technology

    MANILA, Philippines — Repower Energy Development Corp. is set to become the first energy developer in the Philippines to have seawater pumped storage projects in its portfolio after signing a deal with an Austria-based turbine technology provider.

    In a statement, Repower, a unit of Pure Energy Holdings Corp., said the deal with Gugler Water Turbines GMBH would allow it to develop seawater pumped storage projects at several designated sites in the archipelago.

    The Philippine government wants to increase the renewables share in the power generation mix to 35% by 2030.

    Conventional pumped hydro storage has been proven to work for countries that are aiming to transition to clean power. But the use of seawater for storing energy is seen as a better option in integrating renewable energy into the grid system and ensuring stable power supply during peak periods.

    In Asia, Gugler is the technology partner of Korea Midland Power Co. — which operates the Shinseocheon Seawater Hydropower Plant based in South Korea.

    “We are looking to replicate Gugler’s success in a similar venture it has in South Korea,” Eric Peter Roxas, company president and CEO, said.

    Repower’s first project will be a 320MW seawater-pumped storage facility in the Luzon region. The elevation of this project will be around 300 meters above sea level, and the lower reservoir will utilize the coastline for unlimited seawater intake.

    Repower has identified an area in Luzon for the development of this project. The company said it is currently securing the necessary endorsements from the LGU and indigenous communities so that the development of a pilot 50 MW facility can push through.

    Repower is planning to go public this year to fund parts of the equity of its 19.5 Megawatt hydropower projects and acquire more renewable energy projects.

    Full article here

  • June 1, 2023 - Repower, Austrian firm signs deal to develop seawater pumped storage projects in PH

    Repower Energy Development Corp, a subsidiary of Pure Energy Holdings Corp. said Thursday it signed a memorandum of agreement with Austria-based Gugler Water Turbines GMBH for the development of seawater pumped storage project around the country.

    The partnership will bring the proprietary technology to the Philippines, allowing REDC to be the first energy developer to have seawater-pumped storage projects in its portfolio.

    REDC said the first project will be a 320-megawatt seawater-pumped storage facility in Luzon.

    The elevation of the project will be around 300 meters above sea level, and the lower reservoir will utilize the coastline for unlimited seawater intake.

    REDC identified an area in Luzon for the development of the project and is securing the necessary endorsements from the local government units and indigenous communities so that the development of a pilot 50-MW facility can push through.

    “We are pleased to enter into a partnership with Gugler — a leading provider of state-of-the-art turbine technology. We are looking to replicate Gugler’s success in a similar venture it has in South Korea, to further our ultimate goal of uplifting living standards to communities by providing clean energy,” REDC chief executive Eric Peter Roxas said.

    He said 2023 is an exciting year for REDC amid the construction of various run-of-the-river hydropower projects in Bukidnon and Quezon.

    “This agreement will allow us to diversify the services we provide, thus enabling us to enhance our capabilities as an emerging player in the hydropower space,” Roxas said.

    Gugler is the technology partner of Korea Midland Power Co. which operates the Shinseocheon Seawater Hydropower Plant in South Korea.

    Full article here

  • May 31, 2023 - Repower delays pricing after finding anchor buyer

    Repower Energy Development [REDC pre-IPO] [link] notified the exchange yesterday that it would extend its “book-building period”, but Merkado Barkada has learned from a source with first-hand knowledge that this is because REDC found a listed Japanese company that confirmed it will buy the majority of the REDC IPO as an anchor buyer.

    REDC did not say whether the extended book-building period would impact the tentative schedule of the IPO.

    MB BOTTOM-LINE

    This is a fresh development that has many potential benefits to REDC both for this transaction, and going forward post-IPO. Typically an anchor investor can help build confidence in an IPO because it helps validate of the business model and support the valuation.

    That information could be useful to potential buyers, as the thought of a huge chunk of shares being off the market does increase the scarcity of the remaining float. I’m curious to learn the identity of the buyer, to learn more about the relationship between the parties, and to see if there are any strategic benefits to REDC beyond this deal. Of course, I’m also curious to learn the price, but there’s plenty of time for that.

    Full article here

  • May 30, 2023 - Repower Energy to extend book-building period for IPO

    MANILA, Philippines — Prospective market debutante Repower Energy Development Corp. is extending its book-building period.

    The move was announced in a disclosure sent to the Philippine Stock Exchange index on Tuesday.

    The renewable energy developer’s P1.15 billion initial public offering will see the company selling up to 230 million common shares at P5 apiece. Of those shares, 200 million are primary shares while 30 million will be secondary shares that comprise its over-allotment option, tapped if interest proved robust.

    As it is, the company is looking to use 74% of proceeds from its listing to fund parts of the equity of its 19.5 Megawatt hydropower projects. The rest will go to funding or acquisition of renewable energy projects, with 10% allotted for working capital.

    The company’s IPO was already approved by the Securities and Exchange Commission.

    If realized, REDC will be the third company to debut in the local stock market this year, following the maiden offerings of Upson International Corp. and Alternergy Holdings Corp. The PSE is looking to rake in P160 billion from companies going public in 2023.

    The PSE said they were expecting 14 IPOs this year, higher compared to the nine in the preceding year.

    Full article here

  • May 24, 2023 - REDC uplifts living standards through hydropower

    Repower Energy Development Corporation, the first pure-play hydropower company that will list soon at the Philippine Stock Exchange, is set to build more hydropower projects under its pipeline. This is in line with its goal to serve more rural communities, provide jobs to the people in the area, and uplift their living standards.

    The company is currently constructing the 15 MW Pulanai MHP project in Bukidnon and the 4.5 MW Piapi MHP project in Quezon. REDC expects the two plants to start their commercial operations by 2025. For the Tignoan MHP, which is also located in Quezon, the company foresees the possibility of breaking ground in 2024 by its affiliate, Blue Energy.

    In addition, REDC expects to start commercial operations of its 5 MW Tibag MHP and 1.4 MW Lower Labayat MHP, both located in Quezon by June this year. These plants are expected to contribute much-needed energy to our grid, in light of ongoing red and yellow alerts issued by the National Grid Corporation of the Philippines.

    The 5 MW Tibag MHP and 1.4 MW Lower Labayat MHP would also contribute to the bottom line of the company, with around Php 300 million in net income expected to be generated.

    REDC believes run-of-river hydropower is by far the most efficient kind of renewable energy. This is seen in the company’s plants running at an average of around 70% efficiency. In comparison, the average for plant capacity factors is just 12.7% for solar, 33.9% for wind, and 63.2% for geothermal.

    As such, REDC leverages on its efficiency to provide reliable and clean energy to rural and under-electrified communities — therefore uplifting their living standards while generating excellent returns on investment.

    In all facets of its operations, REDC is guided by its North Star of addressing Filipinos’ energy needs through environmental sustainability.

    Full article at https://bilyonaryo.com/2023/05/24/redc-uplifts-living-standards-through-hydropower/power/#gsc.tab=0

  • May 23, 2023 - Repower expects 2023 net income to rise 78% to P300m

    Repower Energy Development Corp. expects net income to reach P300 million in 2023, up 7.8 percent from P168 million last year.

    Repower Energy Development Corp. expects net income to reach P300 million in 2023, up 7.8 percent from P168 million last Revenues climbed to P382 million in 2022 from P233 million in 2021, reflecting a strong momentum in terms of financial performance.

    REDC said one of the factors leading to the company’s strong financial performance is the favorable regulatory regime under the feed-in-tariff program—a policy designed to provide a guaranteed fixed rate for renewable energy investors.

    “If the government can support us with more financial capabilities to achieve financial closure for the projects, that would help a lot,” REDC president Eric Peter Roxas said in an interview with ANC’s Market Edge.

    The company is pursuing an initial public offering of 200 million primary common shares, with an over-allotment option for another 30 million secondary shares. The shares will be sold at P5 apiece. REDC intends to use the proceeds for its expansion plans such as partially funding the equity portion of Pulanai mini hydro power project and Piapi mini-hydro project in Bukidnon and Quezon provinces, respectively and acquiring other renewable energy projects.

    Full article at https://headtopics.com/ph/repower-expects-2023-net-income-to-rise-7-8-to-p300m-39410418

  • May 23, 2023 - Repower eyes 1,000-MW new hydropower projects

    MANILA -Repower Energy Development Corp., the soon-to-list power firm of the Tiu family, plans to grow its renewable energy portfolio in the next five years by building hydro power projects with a potential combined capacity of 1,000 megawatts (MW).

    Repower Energy president Eric Peter Roxas explained that while hydro plants required more capital and were therefore more costly to develop, “the returns on investment can be massive for their bottom line, and recurring income can last up to 100 years or more.”

    “There’s a lot of nature involved, [like] passing through mountains [and] building headrace canals. It’s not for the faint of heart. But once you build it, the continuous flow of the rivers will keep it running for the next 25 to 50 years,” he said in a recent television interview.

    Roxas added that the company’s three run-of-river plants were proof of the efficiency of hydro power, as these plants were still “going strong” despite nearing 100 years of operations.

    Repower Energy, a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., recently got approval from the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission to raise as much as P1.15 billion through an initial public offering (IPO) in June.

    The company is selling up to 200 million shares at a maximum offer price of P5 per share to raise P1 billion for its existing power projects.

    Full article at https://business.inquirer.net/402159/repower-eyes-1000-mw-new-hydropower-projects

  • May 23, 2023 - Repower Energy targets to build additional 1 GW

    REPOWER ENERGY Development Corp. is planning to expand its installed energy capacity by 1 gigawatt (GW) in the next five years, with its portfolio mainly focused on hydropower projects.

    Eric Peter Y. Roxas, president of Repower Energy, said the company’s hydropower plants have been operating for the past seven years and have an efficiency capacity factor of around 72%.

    “We have a very high plant factor and good hydrology. We’re very happy with the performance of the power plants,” he said in a media release on Monday.

    Mr. Roxas said that compared to other technologies, such as solar and wind, hydropower offers way higher efficiency compared with solar at 12.7% and wind at 33%.

    The company said it is setting its sights on growing its capacity by another 1,000 megawatts and concentrating on hydropower projects, “possibly upstream and downstream of existing power plants.” It is also considering seawater pumped storage.

    Mr. Roxas noted that while hydropower plants require huge capital investments for construction, the return on investments can be huge and recurring income can extend beyond 100 years.

    “There’s a lot of nature involved [like] passing through mountains [and] building headrace canals. It’s not for the faint of heart. But once you build it, the continuous flow of the rivers will keep it running for the next 25 to 50 years,” he said.

    To date, Repower Energy has six operating power plants in Laguna, Quezon, and Camarines Sur provinces. Two more power plants are expected to come online by June this year which will increase the company’s operational capacity by more than 60%.

    Meanwhile, Mr. Roxas is optimistic about the company’s performance in 2023, projecting the company’s net income to reach P300 million this year from P168 million last year.

    The energy company, which is a subsidiary of Pure Energy Holdings Corp., is looking to raise about P1.5 billion through an initial public offering (IPO).

    Repower Energy secured clearance from the Philippine Stock Exchange on May 15 for its IPO plan. It is set to offer 200-million primary common shares at a maximum offer price of P5 apiece, with an over-allotment option of up to 30 million shares.

    The company said proceeds from the IPO will fund expansion plans, including its mini hydroelectric power plants in Pulanai, Bukidnon, and Piapi, Quezon, as well as the development of its other renewable energy projects.

    Full article at https://www.bworldonline.com/corporate/2023/05/23/524340/repower-energy-targets-to-build-additional-1-gw/

  • May 22, 2023 - Repower expects 2023 net income to rise 78% to P300m

    Repower Energy Development Corp. expects net income to reach P300 million in 2023, up 7.8 percent from P168 million last year.

    Revenues climbed to P382 million in 2022 from P233 million in 2021, reflecting a strong momentum in terms of financial performance.

    REDC said one of the factors leading to the company’s strong financial performance is the favorable regulatory regime under the feed-in-tariff program—a policy designed to provide a guaranteed fixed rate for renewable energy investors.

    “If the government can support us with more financial capabilities to achieve financial closure for the projects, that would help a lot,” REDC president Eric Peter Roxas said in an interview with ANC’s Market Edge.

    The company is pursuing an initial public offering of 200 million primary common shares, with an over-allotment option for another 30 million secondary shares. The shares will be sold at P5 apiece.

    REDC intends to use the proceeds for its expansion plans such as partially funding the equity portion of Pulanai mini hydro power project and Piapi mini-hydro project in Bukidnon and Quezon provinces, respectively and acquiring other renewable energy projects.

    REDC has six operating power plants in Laguna, Quezon and Camarines Sur.

    Two more power plants will come online by June 2023, increasing the company’s operational capacity by over 60 percent.

    The company set its sights on “growing another 1,000 megawatts in its portfolio, concentrated on hydropower projects, possibly upstream and downstream of existing power plants and seawater pump storage” in the next five years.

    Roxas said hydropower is one of the most efficient types of renewable energy.

    “Our hydropower plants, which we were operating for the past seven years, have a capacity factor [efficiency] of around 72 percent. We have a very high plant factor and good hydrology. We’re very happy with the performance of the power plants,” he said.

    Roxas said this is higher compared to solar power plants whose efficiency is around 12.7 percent, while wind power plants have an efficiency of around 33 percent.

    He said that with more efficient power plants, REDC’s hydropower plants could offer cheaper electricity to consumers.

    “For example, the wholesale market is doing P8 to P9 because of the high oil prices. We are stable at around P5.87. Solar [is around] P8 to P9 per kilowatt-hour,” Roxas said.

    Roxas also said that while hydropower plants require a lot of capital for construction, the returns on investment could be massive for their bottomline, and recurring income could last up to 100 years or more.

    “There’s a lot of nature involved [like] passing through mountains [and] building headrace canals. It’s not for the faint of heart. But once you build it, the continuous flow of the rivers will keep it running for the next 25 to 50 years,” he said.

    Full article at https://manilastandard.net/business/power-technology/314333193/repower-expects-2023-net-income-to-rise-7-8-to-p300m.html

  • May 22, 2023 - Tiu family’s hydro power arm sets bullish outlook: Profit seen to hit P300M for 2023 amid strong financial momentum

    Repower Energy Development Corporation (REDC) is optimistic its net income will reach P300 million this year as it rides high on its robust financial performance.

    With its revenues surging threefold to P382 million and net income climbing to P168 million last year, REDC has attributed its success to several factors, including the favorable regulatory regime facilitated by the feed-in-tariff (FIT) program.

    The FIT program has provided a stable and guaranteed fixed rate, attracting renewable energy investors and driving REDC’s impressive financial growth.

    “If the government can support us with more financial capabilities to achieve financial closure for the projects, that would help a lot,” REDC president Eric Peter Y. Roxas told ANC.

    REDC is gearing up for its upcoming initial public offering (IPO), aiming to offer 200 million primary common shares along with an over-allotment option of up to 30 million secondary shares.

    Priced at up to P5 per share, the IPO proceeds will fuel REDC’s expansion plans, including the partial funding of the equity portion for the Pulanai and Piapi hydro plants in Bukidnon and Quezon, respectively.

    The company also intends to use the funds for acquiring other promising renewable energy projects.

    With a solid foundation, REDC currently operates six power plants across Laguna, Quezon, and Camarines Sur.

    The company is set to bolster its operational capacity by over 60 percent as two additional power plants are scheduled to go live by June 2023.

    Looking ahead, REDC has ambitious goals for the next five years, aiming to add 1,000 megawatts to its portfolio. This expansion will be primarily focused on hydropower projects, both upstream and downstream of existing power plants, as well as exploring the potential of seawater pump storage technology

    As REDC positions itself for growth, the IPO serves as a stepping stone to fuel its ambitious renewable energy endeavors.

    Full article at https://bilyonaryo.com/2023/05/22/tiu-familys-hydro-power-arm-sets-bullish-outlook-profit-seen-to-hit-p300m-for-2023-amid-strong-financial-momentum/power/#gsc.tab=0

  • May 18, 2023 - Michelle Ong from ANC's Market Edge interviews REDC's President Eric Peter Y. Roxas

  • May 18, 2023 - Tiu family’s hydropower firm raising P1.15B via IPO in June

    PURE Meridian Hydropower Corp. (PMHC) said it has broken ground on its 3-megawatt (MW) run-of-river run of river hydropower plant in Lalawinan, Quezon Province.

    PMHC is a joint venture of Manila Electric Co. (Meralco) with Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings Corp.

    The Lalawinan hydropower plant is the second project under the partnership, PMHC chairman Alfredo Panlilio said in a statement on Wednesday.

    The first partnership project is the Pulanai run of river hydropower plant in Bukidnon, which had its groundbreaking last December.

    The Lalawinan plant will connect to the transmission infrastructure of REDC’s Upper Labayat 3-MW mini-hydro power project via a 10.5-kilometer, 69-kilovolt (kV) line. It will have two generating units, and the total annual power generation will be over 16-gigawatthours (GWh) from this renewable energy source.

    The project cost is P700 million and it is expected to generate over 200 jobs during construction, mostly hired from the local community.

    The project will avail of the run-of-river hydropower feed-in-tariff (FiT) rate of 5.90 per kilowatt hour. ROR hydropower is the cheapest renewable energy resource being charged under FiT.

    "We reiterate our earlier pronouncement that our investments in the various run-of-river mini hydro projects are a manifestation of our unwavering commitment to support the development of the renewable energy sector. It is our hope that these various initiatives will contribute in providing a stable, clean and reliable energy source," Panlilio added.

    PMHC and Pure Energy’s CEO Dexter Y. Tiu said they remain focused on putting forward knowledge on run-of-river (ROR) technology.

    "Our goal is to provide sustainable alternatives to balance the country’s overdependence on fossil fuels, while preserving our natural watersheds," Tiu said.

    World Wide Fund recently signed a partnership with Pure Energy to identify key areas for potential run-of-river hydropower development. A Seize the Flow campaign was also recently launched by the parties to promote awareness and preservation of the watersheds.

    "We are committed to help save our last remaining Sierra Madre rainforest and wildlife habitat here in Quezon, which is our humble way of participating in the war on climate change," Tiu added.

    The Lalawinan plant is Meralco’s first foray in run-of-river hydropower in Luzon, while for Pure Energy’s hydropower arm, REDC, this is its third hydropower groundbreaking this year.

    Aside from Lalawinan, REDC is targeting to break ground on two more hydropower projects this year, and another 15 hydropower projects in the next three years.

    Meanwhile, Pure Energy plans to venture into the intermittent solar energy for a balanced portfolio of renewable energy projects.

    Full article at https://business.inquirer.net/401259/tiu-familys-hydropower-firm-raising-p1-15b-via-ipo-in-june#ixzz821QR3mP7

  • May 11, 2023 - IPO-bound Repower eyes P15-b capex to build 50 MW of projects

    Repower Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., is looking at a capital expenditure budget of P15 billion to develop 50 megawatts of capacity and other possible RE projects in the next three to five years.

    Its projects under development include the 15-megawatt Pulanai mini-hydro power plant in Bukidnon and the 4.5-MW Piapi mini-hydro power plant in Quezon which are expected to come online by 2025.

    “The balance of the 30 MW will come from the low-hanging projects that are in advanced development stage and being developed under our affiliates,” the company said.

    REDC’s portfolio of operating and income-generating mini-hydro power plants include the 1.5-MW Palakpakin, 1.1-MW Balugbog, 300-kilowatt Calibato, 2.19-MW Majayjay, 1.6-MW Inarihan, 3.456-MW Upper Labayat, 5-MW Tibag and 1.4-MW Lower Labayat.

    The Tibag and Lower Labayt power plants in Quezon will come online by June 2023.

    The Philippine Stock Exchange and the Securities and Exchange Commission approved REDC’s planned initial public offering.

    REDC will offer 200 million primary common shares for up to P5 apiece, with an overallotment option for another 30 million common shares.

    The company plans to use the proceeds from the IPO to fund the equity portion of the Pulanai and Piapi power project, the development and acquisition of renewable energy projects and fund operating and working capital requirements.

    China Bank Capital will serve as the lead underwriter for the offering.

    “We are pleased to receive regulatory approvals for our IPO, given this is a major step for us to be able to expand our presence in bringing clean and renewable energy to under-electrified communities around the country,” REDC president Eric Peter Roxas said.

    “Unlike other renewable energy companies that did an IPO with net losses and selling a pipe dream, REDC is a solid company with recurring net income that grows exponentially,” Roxas said.

    He said REDC’s business model is pandemic and crisis-proof. “Whether oil hits $200 per barrel tomorrow or the peso exchange rate dives to USD 1 = P100 one day, we are here to stay and provide a strong dividend yield to our shareholders year on year,” Roxas said.

    REDC has a three-year track record of profitability, with a net income of P168 million in 2022 and a projected net income of close to P300 million in 2023.

    The company is also looking at onshore wind projects and seawater-pumped storage projects totaling 1,000 MW of RE capacity.

    Full article at https://manilastandard.net/business/power-technology/314329980/ipo-bound-repower-eyes-p15-b-capex-to-build-50-mw-of-projects.html

  • May 11, 2023 - Repower Energy secures PSE’s approval for P1.15 billion IPO

    Repower Energy Development Corp. (REDC), a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., has received the greenlight from the Philippine Stock Exchange for its initial public offering estimated to raise around P1.15 billion.

    REDC will offer 200 million primary common shares at a maximum price of P5 per share with an overallotment option of up to 30 million common shares.

    Proceeds from the IPO will be utilized for the Pulanai mini-hydro project in Bukidnon, the Piapi mini-hydro project located in Quezon, the development and acquisition of renewable energy projects, as well as for operating and working capital requirements.

    These projects are targeted to come online by 2025.

    China Bank Capital is the lead underwriter for the offering.

    “We are pleased to receive regulatory approvals for our IPO, given this is a major step for us to be able to expand our presence in bringing clean and renewable energy to under-electrified communities around the country,” said Eric Peter Roxas, president of REDC.

    “Unlike other renewable energy companies that did an IPO with net losses and selling a pipe dream, REDC is a solid company with recurring net income that grows exponentially. Our business model is pandemic proof, crises proof, whether oil hits USD 200 per barrel tomorrow or the peso exchange rate dives to USD 1 = P100 one day, we are here to stay and provide a strong dividend yield to our shareholders year-on-year,” Roxas said.

    REDC has a three-year track record of profitability, with a net income of P168 million last year and a projected net income of close to P300 million in 2023.

    Since its establishment in 2013, Repower has deployed its resources to develop run-of-river hydropower projects in four provinces, namely Laguna, Quezon, Camarines Sur, and Bukidnon.

    By June, REDC is commissioning another two new power plants, the 5MW Tibag and 1.4MW Lower Labayat hydropower plants in Quezon.

    In just seven years of development, REDC will have eight operating hydropower plants – with all having recurring income.

    Projects in the pipeline include onshore wind projects and seawater-pumped storage projects totaling 1,000 MW of renewable energy capacity.

    Full article at https://bilyonaryo.com/2023/05/11/repower-energy-secures-pses-approval-for-p1-15-billion-ipo/power/#gsc.tab=0

  • May 9, 2023 - SEC oks Tiu hydropower IPO, Filinvest condotel offer

    MANILA -Repower Energy, the hydropower arm of businessman Dexter Tiu-led Pure Energy Holdings Corp., received the go signal for its P1.15-billion initial public offering (IPO) from the Securities and Exchange Commission (SEC).

    In a statement on Monday, the SEC said the energy company was set to offer 200 million common shares with an overallotment option of up to 30 million common shares. The IPO is priced at P5 per stock.

    Subject to further approval by the Philippine Stock Exchange, the offering period is targeted to run on June 5 to June 14. The shares are expected to be listed on June 23.

    From this transaction, Repower is estimated to receive net proceeds of P949.5 million.

    The funding will be used for hydropower projects, development and/or acquisition of renewable energy projects and working capital needs.

    China Bank Capital Corp. is the sole issue manager, lead underwriter and sole bookrunner for the IPO.

    Repower currently has six hydropower plants with a combined capacity of 10.146 megawatts.

    Full article at https://business.inquirer.net/399897/sec-oks-tiu-hydropower-ipo-filinvest-condotel-offer#ixzz81AioN300

  • May 9, 2023 - SEC approves Repower Energy IPO

    THE Securities and Exchange Commission (SEC) has approved Repower Energy Development Corp.'s plan to go public subject to the firm complying with remaining conditions."In its May 4, 2023 meeting, the commission en banc resolved to render effective the registration statements of Repower Energy covering 650,000,002 common shares, which will be subject to the companies' compliance with certain remaining requirements," the SEC said on Monday.

    Repower Energy will be offering 200 million common shares to the public at up to P5 per share.

    The initial public offering (IPO) will include an overallotment option of up to 30 million common shares to be sold by parent firm Pure Energy Holdings Corp.

    "The company said it expects to net P949.50 million from the offer, and the shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE)," the SEC said.

    "The IPO will run from June 5 to June 14, 2023, while its listing at the PSE will be on June 23, 2023, based on the latest timetable submitted to the commission."Repower Energy plans to use the proceeds for hydropower projects, develop and acquire renewable energy projects, and fund operating and working capital requirements.China Bank Capital Corp. has been tapped as the sole issue manager, lead underwriter, and sole bookrunner for the transaction.

    Full article at https://www.manilatimes.net/2023/05/09/business/corporate-news/sec-approves-repower-energy-ipo/1890528

  • May 9, 2023 - Repower to raise P1.15B thru IPO

    Repower Energy Development Corp. is looking to raise P1.15 billion in proceeds through an initial public offering (IPO).

    The Securities and Exchange Commission (SEC) said it has approved the company’s IPO plans last week subject to submission of remaining documents.

    Repower Energy is looking to offer to the public an initial 200 million primary common shares, and another 30 million secondary shares owned by company shareholder Pure energy Holding Corp., at an offer price of up to P5 per share.

    “The company expects to net P949.5 million from the offer, which will be used to fund the equity portion of its hydropower projects, the development and/or acquisition of renewable energy projects, and operating and working capital requirements,” the SEC said.

    “It will not receive any proceeds from the sale of common shares held by its selling shareholder,” it added.

    Repower energy eyes to have its IPO between June 5, 2023 and June 14, 2023, with listing eyed on June 23, 2023.

    The company tapped China Bank Capital Corp. as the sole issue manager, lead underwriter, and sole bookrunner for the transaction.

    Repower Energy is the hydropower arm of Pure Energy Holdings, led by businessman Dexter Y. Tiu. It develops mini-hydropower projects through a “clustered approach method” where several projects are in a target area providing for shared economies of scale through common infrastructure, reducing the cost of development and improving the bottom line.

    The company oversees the operation of a total of six hydropower plants with a combined capacity of 10.146 megawatts. It has 124 megawatss (MW) of mini-hydropower projects clustered in Laguna, Quezon, Camarines Sur, Bukidnon, and other provinces under development.

    Full article at https://malaya.com.ph/news_business/repower-to-raise-p1-15b-thru-ipo/

  • May 9, 2023 - BIZ BUZZ: Undermining Bautista and Chiong

    Hydropower developer IPO

    The energy sector is considered as one of the most capital-intensive industries, given the various infrastructure that needs to be built for a project to go fully online. As such, many energy developers resort to capital markets to get the funding they need for their expansion plans.

    On Monday, hydropower developer Repower Energy Development Corp. unveiled its plan to list on the stock exchange.

    Repower Energy is a subsidiary of Pure Energy Holdings Corp., a firm involved in renewable energy and water supply. Pure Energy owns several operating solar farms, eight operating hydropower plants, a biomass hybrid power plant, geothermal resources, and 15 operating bulk water and distribution concessions throughout the Philippines.

    Repower Energy has been operating eight hydropower plants since its establishment seven years ago, and all of them have recurring income. The initial public offering (IPO) proceeds will fund hydropower plants set to come online by 2025. The company plans to offer 200 million shares at a price of up to P5 per share.

    Repower Energy is also looking to develop onshore wind projects and seawater pumped storage projects, totaling over 1,000 megawatts of renewable energy capacity.

    Full article at https://business.inquirer.net/399902/biz-buzz-undermining-bautista-and-chiong

  • May 9, 2023 - SEC clears Repower Energy’s initial public offering

    THE Securities and Exchange Commission (SEC) has cleared the registration of shares by Repower Energy Development Corp. for an initial public offering (IPO) as well as the participation certificates by Fora Services, Inc. for a condotel in Tagaytay.

    “In its May 4 meeting, the Commission En Banc resolved to render effective the registration statements of Repower Energy covering 650,000,002 common shares and of Fora Services covering 164 certificates of participation,” the SEC said in a press release on Monday.

    Repower Energy is the hydropower arm of Pure Energy Holdings Corp., while Fora Services is a wholly-owned subsidiary of Filinvest Hospitality Corp. The regulator said its nod is subject to the companies’ compliance with certain remaining requirements.

    The SEC approved the IPO of Repower Energy for 200-million common shares with an overallotment of 30 million common shares priced at P5 apiece. It said the shares will be listed and traded on the main board of the Philippine Stock Exchange.

    The company expects proceeds of up to P949.5 million from the offering which it will use to fund the equity portion of its hydropower projects, development and/or acquisition of renewable energy projects, and operating and working capital requirements.

    The initial offer period is from June 5 to 14 with its listing on June 23. China Bank Capital Corp. is the sole issue manager, lead underwriter, and sole bookrunner for the transaction.

    Repower Energy oversees the operation of six hydropower plants with a combined capacity of 10.146 megawatts.

    Meanwhile, Fora Services plans to fund its Quest Hotel Tagaytay project by offering 164 certificates of participation priced at a range of P187,700 to P440,700 each.

    The company expects net proceeds from the offering to amount to P33.3 million, which it targets to use for expenses, technical fees, working capital buyouts, as well as working capital requirements.

    Filinvest Land, Inc. will offer and sell the certificates through its network of registered brokers and securities salesmen.

    The certificates will be offered and sold to the buyers of the 164 rooms in the hotel, which will be operated and managed as a condotel. Certificate holders will be entitled to receive a payment of distributable participation interest annually and room use privilege for up to 14 nights in the condotel per year.

    Full article at https://www.bworldonline.com/corporate/2023/05/09/521670/sec-clears-repower-energys-initial-public-offering/

  • May 9, 2023 - SEC approves Repower Energy IPO

    THE Securities and Exchange Commission (SEC) has approved Repower Energy Development Corp.'s plan to go public subject to the firm complying with remaining conditions."In its May 4, 2023 meeting, the commission en banc resolved to render effective the registration statements of Repower Energy covering 650,000,002 common shares, which will be subject to the companies' compliance with certain remaining requirements," the SEC said on Monday.

    Repower Energy will be offering 200 million common shares to the public at up to P5 per share.

    The initial public offering (IPO) will include an overallotment option of up to 30 million common shares to be sold by parent firm Pure Energy Holdings Corp.

    "The company said it expects to net P949.50 million from the offer, and the shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE)," the SEC said.

    "The IPO will run from June 5 to June 14, 2023, while its listing at the PSE will be on June 23, 2023, based on the latest timetable submitted to the commission."Repower Energy plans to use the proceeds for hydropower projects, develop and acquire renewable energy projects, and fund operating and working capital requirements.China Bank Capital Corp. has been tapped as the sole issue manager, lead underwriter, and sole bookrunner for the transaction.

    Full article at https://www.msn.com/en-ph/news/money/sec-approves-repower-energy-ipo/ar-AA1aUscJ?ocid=mailsignout&li=BB15QWvV

  • May 9, 2023 - Repower Energy has P1.15-B IPO approved by SEC

    Repower Energy Development Corporation [REDC] [prospectus link] received SEC approval to conduct an IPO to sell up to 230 million shares at P5.00/share, for a total transaction value of P1.15 billion.

    The preliminary deal is 200 million primary shares and 30 million secondary shares as part of REDC’s over-allotment option, with pricing scheduled for May 30, an offer period scheduled for June 5 through June 14, and a listing on June 23.

    REDC plans to put 74% of the deal proceeds toward partially funding the equity portion of 19.5 MW of current hydropower projects, with 16% reserved for the funding or acquisition of additional renewable energy projects, and 10% reserved for working capital.

    The deal would give REDC a P3.25 billion post-transaction marketcap.

    The company is the hydropower subsidiary of Pure Energy Holdings Corp (PEHC), which is headed by Dexter Tiu. REDC had 2022 revenues of P382 million (up from P136 million in 2020), and a 2022 net income of P168 million (up from P18 million in 2020).

    China Bank Capital is the sole issue manager, underwriter, and bookrunner on the deal.

    MB BOTTOM-LINE

    I’m a fanboy of run-of-river hydro (I used to work in the industry back in a previous life, and the physics are fascinating to me) and I’m a fan of renewable energy development and of IPOs in general.

    This isn’t a massive IPO by any means, but this is the kind of listing that the SEC and PSE were hoping to attract when it relaxed the listing rules and embarked on a multi-year marketing push to educate SMEs about the potential benefits of raising money through the markets.

    Speaking of REDC specifically, I like that the deal is so primary-heavy and that the company is putting the vast majority of the proceeds toward project development.

    I also like that they’ve got the chance for a particularly fun ticker symbol like REPOW, RPOWR, or HYDRO, so I hope they step away from the boring “initialism of the holding company’s legal name” strategy that companies like Figaro and Haus Talk used while squandering their obvious ticker potential.

    I'm going to cover this one more in-depth once the deal is approved by the PSE.

    Full article at https://www.philstar.com/business/stock-commentary/2023/05/09/2264977/repower-energy-has-p115-b-ipo-approved-sec

  • May 8, 2023 - SEC approves Repower IPO, FDC unit's condotel certificates

    The Securities and Exchange Commission (SEC) has approved the planned P1.15 billion initial public offering of Repower Energy Development Corporation, and the public offering of participation certificates by Filinvest Development Corporation’s Fora Services, Inc. for a condotel in Tagaytay.

    In a statement, the SEC said the Commission En Banc resolved to render effective the registration statements of Repower Energy covering 650 million common shares and of Fora Services covering 164 certificates of participation, subject to the companies’ compliance with certain remaining requirements.

    Repower Energy will offer to the public 200 million common shares priced at up to P5 per share. The initial public offering will also include an overallotment option of up to 30 million common shares to be sold by the company’s shareholder, Pure Energy Holdings Corporation.

    The IPO will run from June 5 to 14, 2023 and the shares will be to be listed and traded on the Main Board of the Philippine Stock Exchange (PSE) on June 23, based on the latest timetable submitted to the SEC.

    The company expects to net P949.5 million from the offer, which will be used to fund the equity portion of its hydropower projects, the development or acquisition of renewable energy projects, and operating and working capital requirements.

    It will not receive any proceeds from the sale of common shares held by its selling shareholder.

    Repower Energy is the hydropower arm of Pure Energy Holdings, led by businessman Dexter Y. Tiu. The company oversees the operation of a total of six hydropower plants with a combined capacity of 10.146 megawatts.

    Repower Energy has engaged China Bank Capital Corporation as the sole issue manager, lead underwriter, and sole bookrunner for the transaction.

    Full article at https://mb.com.ph/2023/5/7/sec-approves-repower-ipo-fdc-unit-s-condotel-certificates

  • May 8, 2023 - Dexter Tiu’s Repower Energy secures SEC approval for P1 billion IPO

    Repower Energy Development Corp., the hydropower arm of Pure Energy Holdings led by businessman Dexter Liu, has been given the green light by the Securities and Exchange Commission (SEC) to launch its P1 billion initial public offering (IPO).

    The IPO will offer 200 million common shares with an overallotment option of up to 30 million common shares to be sold by the company’s shareholder Pure Energy.

    The shares will be sold at P5 apiece and will be listed and traded on the main board of the Philippine Stock Exchange (PSE).

    The IPO’s net proceeds, amounting to P949.5 million, will be used for the equity portion of hydropower projects, acquisition of renewable energy projects, and working capital requirements.

    The offer period will run from June 5 to 14, with listing at the PSE on June 23.

    Repower Energy oversees the operation of a total of six hydropower plants with a combined capacity of 10.146 megawatts.

    The IPO’s net proceeds, amounting to P949.5 million, will be used for the equity portion of hydropower projects, acquisition of renewable energy projects, and working capital requirements.

    The offer period will run from June 5 to 14, with listing at the PSE on June 23.

    Repower Energy oversees the operation of a total of six hydropower plants with a combined capacity of 10.146 megawatts.

    Full article at https://bilyonaryo.com/2023/05/08/dexter-tius-repower-energy-secures-sec-approval-for-p1-billion-ipo/power/

  • May 8, 2023 - SEC approves Repower’s P1.15-billion IPO

    The Securities and Exchange Commission approved the P1.15-billion initial public offering of Repower Energy Development Corp.

    It said REDC plans to sell 200 million common shares, with an over-allotment option for another 30 million shares at a maximum price of P5 each.

    REDC is the hydropower arm of Pure Energy Holdings led by businessman Dexter Tiu. The company operates six hydropower plants with a combined capacity of 10.146 megawatts.

    The company said it would use the proceeds from the IPO to fund the equity portion of its hydropower projects, the development and/or acquisition of renewable energy projects and operating and working capital requirements.

    The company plans to rapidly grow its portfolio through strategic acquisition of existing hydropower plants, enhancing their value through operational improvements, focused redevelopment and the introduction of the latest European technologies.

    The IPO will run from June 5 to 14 in time for listing on the main board of the Philippine Stock Exchange on June 23, based on the latest timetable submitted to the SEC.

    REDC engaged China Bank Capital Corp. as the sole issue manager, lead underwriter and sole bookrunner for the transaction.

    REDC will be second renewable energy firm to list on the local bourse this year after Alternergy Holdings Corp.

    Full article at https://manilastandard.net/business/314328866/sec-approves-repowers-p1-15-billion-ipo.html

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