• April 9, 2024 - Repower Energy signs deal with NIA for mini-hydropower projects

    RENEWABLE ENERGY developer Repower Energy Development Corp. (REDC) announced on Monday an agreement with the National Irrigation Administration (NIA) for the development of mini hydropower plants.

    The company and NIA have signed a memorandum of understanding seeking to develop mini hydropower plants in three areas where the agency has existing infrastructure, the company said in a statement.

    REDC had requested NIA’s permission to conduct comprehensive studies on the economic, financial, and technical viability of the projects.

    These projects cover the river irrigation systems in Brgy. Dapdap in Tayabas, Quezon; Brgy. Sta. Justina in Iriga City, Camarines Sur; and Brgy. Poblacion in Pilar, Bohol.

    “We would like to thank NIA Administrator Eddie Guillen and the entire organization for their trust and confidence in REDC by allowing us to develop and integrate mini hydropower plants into their existing infrastructure,” REDC President Eric Peter Y. Roxas was quoted as saying.

    “These will benefit the Filipino people through renewable energy that will be delivered to their households. At the same time, these projects are designed to uphold the property rights of Filipino farmers so that they can continue with their livelihood,” he added.

    REDC is a run-of-river hydropower developer, a subsidiary of Pure Energy Holdings, which has 124 megawatts (MW) of mini-hydropower projects clustered in Laguna, Quezon, Camarines Sur, Bukidnon, and other provinces under development.

    The company is currently constructing a 4.5-MW hydropower plant in Quezon and a 20-MW plant in Bukidnon. Both plants are targeted to start operations by the fourth quarter of 2025.

    For the third quarter, the company reported an attributable net income of P36.51 million, up 19.3%. Gross revenues went down by 11.9% to P103.26 million.

    At the local bourse on Monday, shares of the company went down by P0.20 or 3.33% to close at P5.80 each.

    Full article here.

  • April 8, 2024 - Repower signs MOU to develop mini-hydros in irrigation areas

    Repower Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., said Monday said it signed a memorandum of understanding (MOU) with the National Irrigation Administration (NIA).

    REDC said in a statement this signifies the company’s intention to pursue the development of mini-hydropower plants in three areas where the NIA has existing infrastructure.

    REDC requested for the NIA’s permission to conduct comprehensive studies on the economic, financial and technical viability of the projects.

    These projects cover the river irrigation systems (RIS) in Barangay Dapdap in Tayabas, Quezon; Barangay Sta. Justina in Iriga City, Camarines Sur; and Barangay Poblacion in Pilar, Bohol.

    REDC said it would deploy its engineers and technical staff to these areas for planning and maintenance of the projects.

    “We would like to thank NIA administrator Eddie Guillen and the entire organization for their trust and confidence in REDC by allowing us to develop and integrate mini hydropower plants into their existing infrastructure,” REDC president Eric Peter Roxas said during the signing ceremony.

    “These will benefit the Filipino people through renewable energy that will be delivered to their households. At the same time, these projects are designed to uphold the property rights of Filipino farmers so that they can continue with their livelihood,” Roxas said.

    The Department of Energy (DOE) recently awarded REDC wind energy service contracts totaling 500 megawatts that would further expand its portfolio of clean-energy facilities around the country.

    The 25-year wind contracts would allow the company to build the wind farms in Real and Mauban, Quezon Province.

    Full article here.

  • April 8, 2024 - REDC, NIA to explore potential hydropower projects in 3 provinces

    Repower Energy Development Corp. (REDC) and the National Irrigation Administration (NIA) signed a memorandum of understanding (MOU) for possible hydropower facilities in Quezon, Camarines Sur, and Bohol.

    In a statement, REDC said that the hydropower unit of Pure Energy Holdings Corp. has received approval to assess the economic, financial, and technical viability for the development of small-scale hydropower plants in three of NIA's current structures.

    Once construction begins, this could benefit Filipino farmers by enhancing their farm livelihood.

    These potential projects will cover the river irrigation systems (RIS) in Tayabas, Quezon, Iriga City, Camarines Sur, and Pilar, Bohol.

    REDC also assured efficient planning and maintenance for the projects as they already have existing company presence in these areas.

    REDC President Eric Y. Roxas thanked NIA Administrator Eddie Guillen for partnering with them, stating “These will benefit the Filipino people through renewable energy that will be delivered to their households.”

    Repower Energy Development Corp. (REDC) and the National Irrigation Administration (NIA) signed a memorandum of understanding (MOU) for possible hydropower facilities in Quezon, Camarines Sur, and Bohol.

    In a statement, REDC said that the hydropower unit of Pure Energy Holdings Corp. has received approval to assess the economic, financial, and technical viability for the development of small-scale hydropower plants in three of NIA's current structures.

    Once construction begins, this could benefit Filipino farmers by enhancing their farm livelihood.

    These potential projects will cover the river irrigation systems (RIS) in Tayabas, Quezon, Iriga City, Camarines Sur, and Pilar, Bohol.

    REDC also assured efficient planning and maintenance for the projects as they already have existing company presence in these areas.

    REDC President Eric Y. Roxas thanked NIA Administrator Eddie Guillen for partnering with them, stating “These will benefit the Filipino people through renewable energy that will be delivered to their households.”

    Full article here.

  • April 8, 2024 - REDC, NIA sign agree to develop hydropower plants

    Repower Energy Development Corp., the hydropower subsidiary of Pure Energy Holdings Corp., has signed a memorandum of understanding with the National Irrigation Administration (NIA) and its intent to pursue the development of mini hydropower plants in areas where the NIA has existing infrastructure.

    REDC has asked for the NIA’s permission to conduct comprehensive studies on the economic, financial and technical viability of projects covering the river irrigation systems in Barangay Dapdap in Tayabas, Quezon, Barangay Sta. Justina in Iriga City, Camarines Sur and Barangay Poblacion in Pilar, Bohol.

    These are provinces where REDC already has a presence and as consequence, the company will be able to use its engineers and technical staff for planning and maintenance of the projects.

    “We would like to thank NIA administrator Eddie Guillen and the entire organization for their trust and confidence in REDC by allowing us to develop and integrate mini hydropower plants into their existing infrastructure,” Eric Peter Y. Roxas, president of REDC, said during the signing ceremony.

    “These will benefit the Filipino people through renewable energy that will be delivered to their households. At the same time, these projects are designed to uphold the property rights of Filipino farmers so that they can continue with their livelihood.”

    Full article here.

  • April 4, 2024 - NIA and REDC Ink MOU on Irrigation Development

    In line with the Agency’s renewable energy thrust, NIA Administrator Engr. Eduardo Eddie G. Guillen and Repower Energy Development Corporation (REDC) President Eric Peter Y. Roxas signed Memorandum of Understanding (MOU) on irrigation development on April 3, 2024 at NIA Central Office.

    The MOU Signing signifies the intention of REPOWER and NIA to pursue the development of three mini hydroelectric power plants at the Dumacaa River Irrigation System (Dumacaa RIS) Structures 1, 2, and 3 in the City of Tayabas, Quezon, Rinconada Integrated Irrigation System (RIDA RIIS) in the City of Iriga, Camarines Sur, and Malinao Dam in the Municipality of Pilar, Bohol. The said projects will be developed through an acceptable scheme under existing laws, such as Republic Act (RA) No. 9513 (Renewable Energy Act of 2008).

    Under the memorandum, REDC shall undertake full blown studies at its own expense and at no cost to NIA. This includes the conduct of feasibility studies covering the financial, socio-economics, and technical viabilities, as well as the most cost-effective development, construction, and operation of the power generation component.

    NIA Senior Deputy Administrator Engr. Robert C. Suguitan and Mr. Dexter Tiu witnessed the ceremonial signing.

    REDC President Roxas expressed his gratitude to NIA. He emphasized the importance of the projects and assured that the project construction will not hamper the provision of irrigation service to the Filipino farmers.

    “We would like to thank Administrator Eddie and the NIA Administration for this trust and confidence in REDC to be able to develop the existing NIA infrastructures and enhance it with hydropower components. This will definitely be beneficial to the Filipino people as we develop more renewable energy without displacing the Filipino farmers”, said REDC President Roxas.

    Full article here.

  • March 25, 2024 - Repower enlists yet another backer

    MANILA, Philippines — Tiu-led Repower Energy Development Corp. has gained another investor after an energy firm based in the British Virgin Islands acquired nearly a tenth of its shares for P388.61 million.

    In a stock exchange filing last week, Repower said Climate Energy Advisors Series Three Ltd. had acquired 64.5 million of its shares, equivalent to a 9.95-percent stake.

    Repower has a market capitalization of P4.15 billion to date.

    The power firm, a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., added that the transaction was meant for Climate Energy to “further accomplish its primary purpose to acquire, own and manage equity interests, shares or assets in one or more subsidiary companies in renewable energy businesses in the Philippines.”

    The company likewise clarified that Climate Energy did not intend to enter into a merger agreement with Repower, nor would it acquire additional shares.

    Repower officially listed in the local bourse in June 2023, raising P1.15 billion in its initial public offering (IPO) to expand its renewable energy portfolio.

    Last month, Tokai Corp., a subsidiary of Japanese conglomerate Tokai Holdings Corp., injected an additional P486.3 million in capital into Repower.

    This raised its stake in Repower to 20.1 percent from 10 percent.

    The Japan-listed company, which has investments across retail, commercial and industrial markets, was an anchor investor in Repower’s IPO, acquiring a third of the IPO shares.

    Full article here.

  • March 20, 2024 - Repower snags contracts for additional wind farms

    MANILA, Philippines — Green energy in the Philippines appears to continue revving up as the Department of Energy (DOE) awarded three service contracts to Repower Energy Development Corp. (REDC) of businessman Dexter Tiu to build wind power projects.

    In a stock exchange filing on Tuesday, Repower said the wind energy service contracts awarded by the department—all valid for 25 years—involve the construction of three wind farms in Real and Mauban towns in Quezon province with an aggregate capacity of 500 megawatts (MW).

    The construction of wind farms in Quezon will begin later this year and Repower said it plans to have the wind turbines shipped via sea.

    Repower said this development allows them to further expand its portfolio of clean energy facilities.

    “Developing our wind-energy capabilities will complement our core capabilities in operating run-of-river hydropower plants, enabling REDC to continue enjoying its ongoing multiyear growth in revenue and net income,” Repower president and CEO Eric Peter Roxas said.

    The largest among the three wind projects is the 200-MW Real Offshore Wind Farm which will be built in an area covering 14,661 hectares.

    Repower will also build the 100-MW Silang Onshore Wind Farm covering 2,592 hectares and the 100 MW Mauban Offshore Wind Farm spanning 3,888 hectares.

    On top of the three wind facilities, the listed firm is also undertaking the 100-MW Pandan Labayat Onshore Wind Farm in the province.

    These projects are all located within the vicinity of Repower’s three operating hydropower plants. It also operates a large switching station directly connected to the grid operated by the National Grid Corp. of the Philippines.

    Repower, a subsidiary of Pure Energy Holdings Corp., is a renewable energy developer that plans to grow their business through strategic acquisition of both greenfield projects and existing hydropower plants.

    Full article here.

  • March 20, 2024 - Repower Energy secures wind contracts

    REPOWER Energy Development Corp. (REDC) said Tuesday it had been awarded 500 megawatts of wind energy service contracts by the Department of Energy, allowing the company to further its portfolio of clean energy facilities across the country.

    The 25-year onshore and offshore wind contracts will allow the company to build four wind farms in the towns of Real and Mauban in Quezon province.

    These include the 100-MW Silang onshore wind farm, which will cover 2,592 hectares of land, the 100-MW Mauban offshore wind farm on 3,888 hectares and the 200-MW Real offshore wind farm on 14,661 hectares of land.

    "In addition to the three wind projects above, the company is also pursuing the 100-MW Pandan Labayat onshore wind farm in Quezon, which will cover 2,025 hectares of land," the company said in a disclosure.

    The planned wind projects, it continued, are situated within the vicinity of its three operating hydropower plants in the area "where it operates a base for the province." It also operates a large switching station directly connected to the National Grid Corp. of the Philippines grid.

    It plans to have its wind turbines shipped by sea and begin construction of its Quezon wind farms later this year, the company said.

    "REDC is committed to providing accessible, affordable and sustainable energy to the underserved Filipino communities, and these new wind energy service contracts will allow us to succeed in continuing achieving this goal," REDC President and Chief Executive Officer Eric Peter Roxas said.

    "Developing our wind-energy capabilities will complement our core capabilities in operating run-of-river hydropower plants, enabling Repower Energy to continue enjoying its ongoing multiyear growth in revenue and net income," he added.

    Repower Energy's shares last traded on March 18 at P6.78 each.

    Full article here.

  • March 20, 2024 - REDC bags 500MW wind energy service contracts from DOE

    Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings, has secured 500 megawatts (MW) of wind energy service contracts from the Department of Energy (DOE).

    These are the 100 MW Silang Onshore Wind Farm, 100 MW Mauban Offshore Wind Farm, and 200 MW Real Offshore Wind Farm. These onshore and offshore wind contracts, which are all valid for 25 years, would allow the company to build these wind farms in Real and Mauban, Quezon Province.

    Moreover, REDC is pursuing the 100 MW Pandan Labayat Onshore Wind Farm in Quezon, which will cover 2,025 hectares of land.

    The projects are all situated within the vicinity of REDC’s 3 operating hydropower plants in the area. It also operates a large switching station that is directly connected to the grid operated by the National Grid Corporation of the Philippines.

    A jetty port, currently being built by one of the country’s leading conglomerates, is nearby REDC’s property. The company plans to have its wind turbines shipped via sea and start its construction of wind farms in Quezon later this year.

    “REDC is committed to providing accessible, affordable, and sustainable energy to the underserved Filipino communities, and these new Wind Energy Service Contracts will allow us to succeed in continuing achieving this goal,” said REDC President Eric Peter Y. Roxas.

    “Developing our wind-energy capabilities will complement our core capabilities in operating run-of-the-river hydropower plants, enabling REDC to continue enjoying its ongoing multi-year growth in revenue and net income.”

    The company is the first pure play hydropower company to be listed in the Philippine Stock Exchange.

    Its initial public offering garnered strong support from institutional investors, securing Japan-listed Tokai Holdings Corp. as an anchor investor, enabling the deal arranger to partially exercise the overallotment option. The proceeds were used to fund the equity portion of its new projects, as well as the acquisition of renewable energy projects.

    Full article here.

  • March 20, 2024 - REDC clinches 500-MW wind energy service contracts

    The Department of Energy, or DoE, has awarded 500 megawatts, or MW, of Wind Energy Service Contracts to Repower Energy Development Corp., or REDC, a unit of Pure Energy Holdings, a move that enables the company to further expand its portfolio.

    The contracts, which are valid for 25 years, cover the construction of onshore and offshore wind farms in Real and Mauban, Quezon Province — the 100-MW Silang Onshore Wind Farm, 100-MW Mauban Offshore Wind Farm, and 200-MW Real Offshore Wind Farm.

    Aside from these ventures, the awarded contract also includes the development of 100 MW Pandan Labayat Onshore Wind Farm in Quezon province, which will cover 2,025 hectares of land.

    Committed

    “REDC is committed to providing accessible, affordable, and sustainable energy to the underserved Filipino communities, and these new Wind Energy Service Contracts will allow us to succeed in continuing to achieve this goal,” Eric Peter Y. Roxas, President and CEO of REDC, said.

    “Developing our wind-energy capabilities will complement our core capabilities in operating run-of-the-river hydropower plants, enabling REDC to continue enjoying its ongoing multi-year growth in revenue and net income.”

    REDC recently completed the development of its 5.8 megawatts, or MW, Tibag plant and 1.4 MW Lower Labayat plant in Quezon. These two plants are expected to increase REDC’s overall power generation capacity by 50 percent.

    According to REDC, two more plants are currently under construction, with the 15 MW Cabanglasan plant in Bukidnon expected to be commissioned ahead of schedule in 2025.

    Full article .

  • March 20, 2024 - DoE awards 500-MW wind contracts to Repower Energy

    THE ENERGY department has awarded wind energy service contracts with a total capacity of 500 megawatts (MW) to Repower Energy Development Corp. (REDC), the renewable energy developer said on Tuesday.

    The 25-year onshore and offshore wind contracts allow the company to build wind farms in Real and Mauban towns in Quezon province, REDC said in a stock exchange disclosure.

    The contracts encompass the 100-MW Silang onshore wind farm covering 2,592 hectares, the 100-MW Mauban offshore wind farm covering 3,888 hectares, and the 200-MW Real offshore wind farm covering 14,661 hectares.

    REDC will also pursue the 100-MW Pandan Labayat onshore wind project, which will cover 2,025 hectares, in Quezon province.

    The projects are situated within the vicinity of the company’s three operating hydropower plants in the area.

    The company also operates a large switching station that is directly connected to the grid of the National Grid Corp. of the Philippines.

    “Developing our wind-energy capabilities will complement our core capabilities in operating run-of-the-river hydropower plants, enabling REDC to continue enjoying its ongoing multi-year growth in revenue and net income,” REDC President and Chief Executive Officer Eric Peter Y. Roxas said.

    For the third quarter, the company recorded an attributable net income of P36.51 million, up 19.3%.

    Gross revenues declined by 11.9% to P103.26 million.

    REDC is a run-of-river hydropower developer, a subsidiary of Pure Energy Holdings, which has 124 MW of mini-hydropower projects clustered in Laguna, Quezon, Camarines Sur, Bukidnon, and other provinces under development.

    Last year, REDC secured clearance from the Department of Energy (DoE) to develop its first wind power projects totaling 200 MW in Quezon province.

    Full article here.

  • March 19, 2024 - Repower bags 500-MW wind power contracts

    The Department of Energy (DOE) awarded Repower Energy Development Corp. (REDC) wind energy service contracts totaling 500 megawatts that would further expand its portfolio of clean-energy facilities around the country.

    The 25-year wind contracts would allow the company to build the wind farms in Real and Mauban in Quezon province.

    “REDC is committed to providing accessible, affordable, and sustainable energy to the underserved Filipino communities, and these new wind energy service contracts will allow us to succeed in continuing achieving this goal,” REDC president and chief executive Eric Peter Roxas said in a statement to the Philippine Stock Exchange Tuesday.

    “Developing our wind-energy capabilities will complement our core capabilities in operating run-of-the-river hydropower plants, enabling REDC to continue enjoying its ongoing multi-year growth in revenue and net income,” he said.

    The projects include the 100-MW Silang onshore wind farm covering 2,592 hectares of land, the 100-MW Mauban offshore wind farm on 3,888 hectares, the 200-MW Real offshore wind farm covering 14,661 hectares and the 100-MW Pandan Labayat onshore wind farm spanning 2,025 hectares.

    The company said it plans to have its wind turbines shipped via sea and start its construction of wind farms in Quezon later this year.

    The projects are situated within the vicinity of REDC’s 3 operating hydropower plants, where it operates a base for the province. It also operates a large switching station that is directly connected to the grid operated by the National Grid Corporation of the Philippines (NGCP).

    REDC, a subsidiary of Pure Energy Holdings, said a jetty port, being built by one of the country’s leading conglomerates, is near its property that it could use for its equipment.

    Full article here.

  • March 19, 2024 - Repower Energy Development Awarded 500Mw Wind Contracts By Department Of Energy


    March 19 (Reuters) - Repower Energy Development Corp REDC.PS:

    - AWARDED 500MW WIND CONTRACTS BY DEPARTMENT OF ENERGY

    - UNDER CONTRACTS CO TO BUILD WIND FARMS IN REAL & MAUBAN, QUEZON PROVINCE

    Full article here. Copyrights to this article are reserved to the author.

  • March 15, 2024 - REDC’s IPO gains recognition

    Repower Energy Development Corp. (REDC), the pure hydropower subsidiary of Pure Energy Holdings Corp., was recognized at The Asset Triple A Awards as “Best IPO – Philippines” during a March 12 ceremony held in Hong Kong.

    In granting the award, The Asset’s board of editors said REDC’s IPO garnered strong support from institutional investors — in particular Japan-based TOKAI Corp., which served as an anchor investor. This enabled China Bank Capital Corp. to partially exercise the over-allotment option for the offering.

    REDC sold 200 million shares at Php 5.00 apiece in its public offering with listing last July 24, 2023, thus valuing the IPO at P1 billion. There was an over-allotment that allowed for the sale of up to 30 million common shares.

    The proceeds from the offering are being primarily used for various purposes — such as the ongoing construction of its 15 MW Cabanglasan hydropower plant in Bukidnon and 4.5 MW Piapi hydropower plant in Quezon. The construction of the 15 MW Cabanglasan hydropower plant is ahead of schedule and is projected to double REDC’s income generation, thus enhancing shareholder value.

    Full article here

  • March 12, 2024 - Repower Energy Development Corporation awarded The Asset Triple A Award for Best IPO 2023



    During the The Asset’s annual awarding ceremony held March 12,2024, Repower Energy Development Corporation was awarded The Asset Triple A Award for Best IPO 2023. The award was received by Michelle Roxas, assistant CFO, together with Evan Tan and Marian Carlos from China Bank Capital Corporation, the company’s underwriter, issue managers and bookrunner during its IPO last July.

    The company is the first pure play hydropower company to be listed in the Philippine Stock Exchange. The IPO garnered strong support from institutional investors - securing Japan-listed TOKAI Holdings Corporation as an anchor investor - enabling the deal arranger to partially exercise the overallotment option. The proceeds were used to fund the equity portion of its new projects, as well as the acquisition of renewable energy projects. The stock was trading at 40% above the IPO price of 5 pesos per share at the start of 2024.

    The Asset Triple A Awards are the pre-eminent recognition for those that have excelled in their respective industry. The Asset recognizes a number of regional issuers and advisers for their roles in leading landmark deals and advancing the ESG conversation.


  • February 14, 2024 - Japanese firm raises stake in Repower to 20.1%

    MANILA, Philippines - A subsidiary of Japanese conglomerate Tokai Holdings Corp. will inject an additional P486.3 million capital into recently listed Repower Energy Development Corp. to fund its renewable energy expansion plans.

    Tokai Holdings, through Tokai Corp., will purchase an additional 65.1 million shares or 10 percent of existing equity at P7.47 each. This will increase its stake in Repower to 20.1 percent.

    The Japan-listed company, which has investments across retail, commercial and industrial markets, was an anchor investor in the initial public offering (IPO) of Repower last year, acquiring a third of the IPO shares.

    Repower raised P1.15 billion from its IPO in July 2023 to partially fund the development of the 15-megawatt (MW) Pulanai and 4.5-MW Piapi hydroelectric power plants in Bukidnon and Quezon province, respectively.

    Both facilities are scheduled for completion in the first quarter of 2025. These will add to Repower’s current portfolio, consisting of seven mini-hydroelectric power plants with a combined capacity of at least 11.55 MW.

    The company also plans to diversify its renewable energy portfolio by pursuing wind projects, including a planned 200-MW wind farm in Quezon.

    Full article here

  • February 14, 2024 - Japanese firm to double stake in REDC

    MANILA, Philippines — Japanese conglomerate Tokai Corp. will double its equity exposure in Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings Corp.

    With an existing 10 percent stake, Tokai said it would buy an additional 65.1 million shares from REDC, increasing its total interest to 20.1 percent.

    The shares will be bought at P7.47 apiece, based on the average daily volume-weighted average price in January.

    “Tokai’s additional investment in REDC signifies the strengthening partnership between the two companies, will enhance the corporate value of REDC and it shall create synergy for both of us in developing projects locally and internationally,” REDC president and CEO Eric Peter Roxas said.

    The additional investment will entitle Tokai to another seat in the energy firm’s board.

    “This additional capital shall serve as fuel for our expansion plans as we look to build a presence in markets we have yet to serve,” Roxas said.

    Tokai, with an annual revenue of 180 billion yen, operates 39 subsidiaries and 10 affiliates with investments across retail, commercial and industrial markets.

    Meanwhile, REDC is known as a developer of run-of-the-river (ROR) hydropower plants, such as the 5.8 MW Tibag plant and 1.4 MW Lower Labayat plant in Quezon. Both projects are expected to increase REDC’s overall power generation capacity by 50 percent.

    Full article here

  • February 14, 2024 - TOKAI hikes stake in Repower

    Japan’s TOKAI Holdings Corp. is increasing its stake in renewable energy firm Repower Energy Development Corp. (REDC).

    TOKAI, an anchor investor to REDC’s initial public offering in July last year by purchasing a 10 percent stake, is buying an additional 65.1 million shares that will increase its stake to 20.1 percent.

    “The shares will be bought at P7.47 apiece, which was based on the average daily volume-weighted average price from January 1 to 31,” the company said.

    REDC closed Tuesday’s trade at P7.26.

    “The investment will be made in the week of February 12, and will entitle TOKAI to a seat in REDC’s board. This is part of TOKAI’s initiatives to achieve carbon neutrality throughout its operations by 2050, and signifies confidence in REDC’s profitability and long-term growth potential,” TOKAI said.

    Eric Peter Roxas, REDC chief executive officer, said TOKAI’s additional investment “signifies the strengthening partnership between the two companies.”

    “It shall create synergy for both of us in developing projects locally and internationally. This additional capital shall serve as fuel for our expansion plans as we look to build a presence in markets we have yet to serve,” he added.

    Full article here

  • February 14, 2024 - Japan’s Tokai hikes stake in Pure Energy subsidiary

    Tokai Corp. will increase its stake in Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings Corp., to 20.1 percent.

    Tokai, which was an anchor investor to REDC’s initial public offering (IPO) by purchasing a 10-percent stake, will purchase an additional 65.1 million shares.

    The shares will be bought at P7.47 apiece, which was based on the average daily volume-weighted average price from January 1 to 31.

    Tokai will have a seat in REDC’s board as result of this additional investment. This investment, the company added, is part of its initiatives to achieve carbon neutrality throughout its operations by 2050, and “signifies confidence in REDC’s profitability and long-term growth potential.”

    “Tokai’s additional investment in REDC signifies the strengthening partnership between the two companies, will enhance the corporate value of REDC, and it shall create synergy for both of us in developing projects locally and internationally,” said REDC President Eric Peter Y. Roxas.

    “This additional capital shall serve as fuel for our expansion plans as we look to build a presence in markets we have yet to serve.”

    Tokai is the consolidated subsidiary of Tokai Holdings Corp., a Japan-listed conglomerate engaged in the energy business, such as the sale of liquefied petroleum gas.

    Primarily known as a developer of run-of-the-river hydropower plants, REDC recently completed the development of its 5.8 megawatt (MW) Tibag plant and 1.4 MW Lower Labayat plant in Quezon. These two plants are expected to increase REDC’s overall power generation capacity by 50 percent.

    Two more plants are currently under construction, with the 15 MW Cabanglasan plant in Bukidnon expected to be commissioned ahead of schedule in 2025.

    REDC raised some P1 billion from its IPO last July 2023. The company said it will use the proceeds to fund the equity portion of its hydropower projects, the development and acquisition of renewable energy projects and operating and for its working capital requirements.

    Full article here

  • February 14, 2024 - Japan's Tokai Announces Increase in Stake in Pure Energy Subsidiary

    Tokai Corp.will increase its stake in Repower Energy Development Corp.(REDC), a subsidiary of Pure Energy Holdings Corp., to 20.1 percent.

    REDC raised some P1 billion from its IPO last July 2023.

    The shares will be bought at P7.47 apiece, which was based on the average daily volume-weighted average price from January 1 to 31.

    Full article here

  • February 13, 2024 - Tokai Corp Boosts Stake in Repower Energy: A Leap Towards Green Energy

    Tokai Corp ups its stake in Repower Energy, moving towards carbon neutrality by 2050. The partnership will boost Repower's expansion plans, including the development of the Cabanglasan plant and diversification into wind projects.

    Japanese Giant Doubles Down on Renewable Energy

    In a significant move towards carbon neutrality, Tokai Holdings Corp., the Japanese conglomerate, is set to boost its stake in Repower Energy Development Corp. (REDC). The decision comes as Tokai plans to acquire an additional 65.1 million shares, amounting to P486.3 million, which will raise its stake in REDC to 20.1 percent.

    Tokai's strategic investment is a testament to its commitment to achieving carbon neutrality by 2050 and its confidence in REDC's growth potential. Eric Peter Y. Roxas, REDC President, emphasized that this partnership would enhance the company's corporate value and create synergy for developing projects locally and internationally.

    Accelerating Repower's Expansion Plans

    As a developer of run-of-the-river hydropower plants, REDC has recently completed the Tibag and Lower Labayat plants in Quezon, contributing to a 50 percent increase in its power generation capacity. With the additional capital from Tokai's investment, REDC plans to expedite the development of the 15-MW Cabanglasan plant in Bukidnon province, aiming for commissioning ahead of schedule in 2025. Advertisement

    Furthermore, REDC intends to leverage the partnership to build a presence in new markets and diversify its portfolio by pursuing wind projects. The company raised P1 billion from its IPO in July 2023, which will be utilized for funding hydropower projects, renewable energy projects, and working capital requirements.

    Tokai's Energy Pursuits

    Tokai Corp., a consolidated subsidiary of Tokai Holdings Corp., is primarily engaged in the energy business, including the sale of liquefied petroleum gas. This latest investment in REDC signifies a growing interest in renewable energy sources, aligning with the global trend towards cleaner and more sustainable power solutions.

    Tokai Corp and Repower Energy are joining forces to reshape the renewable energy landscape, as today's investment paves the way for a greener and more sustainable future.

    Full article here

  • February 13, 2024 - Japan's TOKAI doubling stake in REDC

    TOKAI Corporation of Japan is investing an additional P3.43 billion in publicly-listed renewable energy firm Repower Energy Development Corporation, a subsidiary of Pure Energy Holdings Corporation, to double its stake to 20.1 percent.

    In a statement, REDC said TOKAI Corporation is the consolidated subsidiary of TOKAI Holdings Corporation, a Japan-listed conglomerate engaged in the energy business, such as the sale of liquefied petroleum gas.

    TOKAI will purchase an additional 65.1 million shares equivalent, to a 10.1 percent interest in REDC to increase its of REDC, at P7.47 apiece, which was based on the average daily volume-weighted average price from Jan. 1 to 31.

    The Japanese firm was an anchor investor to REDC’s initial public offering by purchasing a 10 percent stake.

    The additional investment will be made in the week of Feb. 12, and will entitle TOKAI to a seat in REDC’s board.

    “This is part of TOKAI’s initiatives to achieve carbon neutrality throughout its operations by 2050, and signifies confidence in REDC’s profitability and long-term growth potential,” REDC said.

    REDC President and CEO Eric Peter Y. Roxas said “TOKAI’s additional investment in REDC signifies the strengthening partnership between the two companies, will enhance the corporate value of REDC, and it shall create synergy for both of us in developing projects locally and internationally.”

    He noted that “this additional capital shall serve as fuel for our expansion plans as we look to build a presence in markets we have yet to serve.”

    Primarily known as a developer of run-of-the-river hydropower plants, REDC recently completed the development of its 5.8 MW Tibag plant and 1.4 MW Lower Labayat plant in Quezon. These two plants are expected to increase REDC’s overall power generation capacity by 50 percent.

    Two more plants are currently under construction, with the 15 MW Cabanglasan plant in Bukidnon expected to be commissioned ahead of schedule in 2025.

    Full article here

  • February 13, 2024 - Japan’s Tokai acquires P486-m shares to hike Repower Energy stake to 20.1%

    Japanese conglomerate Tokai Corp. is increasing its stake in Repower Energy Development Corp. (REDC) with the acquisition of 65.1 million common shares worth P486.3 million.

    Tokai, an anchor investor in REDC’s initial public offering last year, said it would purchase additional 65.1 million REDC shares at P7.47 apiece. This will increase Tokai’s stake in REDC to 20.1 percent.

    The price was based on REDC’s average daily volume-weighted price from Jan. 1 to 31, 2024.

    REDC said the investment, to be finalized this week by way of a block sale at the Philippine Stock Exchange, would entitle Tokai to a REDC board seat.

    This is part of Tokai’s initiatives to achieve carbon neutrality throughout its operations by 2050 and signifies confidence in REDC’s profitability and long-term growth potential.

    “Tokai’s additional investment in REDC signifies the strengthening partnership between the two companies, will enhance the corporate value of REDC and will create synergy for both of us in developing projects locally and internationally,” said REDC president and chief executive Eric Peter Roxas.

    “This additional capital will serve as fuel for our expansion plans as we look to build a presence in markets we have yet to serve,” he said.

    REDC, a developer of run-of-the-river hydropower plants, recently completed the development of its 5.8-megawatt (MW) Tibag plant and 1.4-MW Lower Labayat plant in Quezon province.

    The two plants are expected to increase REDC’s overall power generation capacity by 50 percent.

    Two more plants are under construction, with the 15-MW Cabanglasan plant in Bukidnon province expected to be commissioned ahead of schedule in 2025.

    Tokai is wholly-owned by Tokai Holdings Corp., a listed company in the Tokyo Stock Exchange. The principal business of the company is energy, including the manufacture and sale of liquefied petroleum gas, liquefied natural gas, high-pressure gas and gas equipment.

    Tokai initially acquired a 10-percent stake during REDC’s maiden share offering.

    REDC is a wholly-owned subsidiary of Pure Energy Holdings Corp., an investment holding company that engages in renewable energy generation and water system management and distribution.

    Full article here

  • February 9, 2024 - Japanese firm Tokai hiking stake in REDC

    Japanese conglomerate Tokai Corp. plans to increase its stake in listed Repower Energy Development Corp. by at least 15 percent through a block sale.

    REDC said in a disclosure to the Philippine Stock Exchange that it received communication from Tokai, notifying its intention to acquire at least 15 percent of the corporation’s equity securities.

    Tokai initially subscribed to 65 million common shares in REDC, equivalent to 9.99 percent of its total outstanding capital stock in July 2023.

    “As a strategic investment, Tokai now intends to further acquire from Pure Energy Holdings Corp. an additional 65,100,000 common shares in REDC, which will be implemented by way of a block sale through the facilities of the PSE. Once implemented, such acquisition will result to Tokai’s ownership of 20.01 percent of the total outstanding capital stock of REDC,” Tokai said in a letter to the Securities and Exchange Commission.

    Tokai is wholly-owned by Tokai Holdings Corp., a listed company in the Tokyo Stock Exchange. The principal business of the company is energy, including the manufacture and sale of liquefied petroleum gas, liquefied natural gas, high pressure gas and gas equipment.

    REDC earlier said Tokai would participate in its planned initial public offering as an anchor investor.

    “We are pleased on Tokai’s commitment to participate in our IPO as this is a testament to the market’s growing interest in our company,” REDC president and chief executive Eric Peter Roxas said.

    “We look forward to taking advantage of the synergies available to us as a result of our partnership with Tokai, such as our expansion into the Japanese renewable energy market, specifically run-of-the-river hydropower projects where our expertise and Tokai’s reach in Japan will prove invaluable,” Roxas said.

    Full article here

  • November 16, 2023 - Repower energy inaugurates 8th run-of-river hydropower plant

    Full article here

  • November 16, 2023 - Repower starts Quezon run-of-river plant

    MANILA -Businessman Dexter Tiu’s listed Repower Energy Development Corp. commissioned a 1.4-megawatt (MW) run-of-river (ROR) hydroelectric power plant in Quezon province on Wednesday in a bid to expand the company’s portfolio and generate more power for consumers in the Luzon grid.

    Repower’s Lower Labayat plant, its eighth mini hydro facility so far, is slated to have an annual generation of 8 gigawatt-hours. It will be operated by Blue Energy Holdings and Management Corp., an affiliate of Repower.

    “The year 2023 for [Repower] has been truly a period of aggressive expansion to provide clean energy to under-electrified communities in provinces, and this ROR hydropower plant in Barangay Labayat is a testament to the success we are currently experiencing,” Repower president Eric Peter Roxas said in a statement.

    According to Repower, the facility located between the existing Upper Labayat and Tibag hydropower plants utilizes the downstream Labayat river to produce clean energy.

    The three mini hydropower plants are connected through a 69-kilovolt transmission line that is connected to the national grid.

    Repower on Tuesday announced that it was expecting to earn P250 million this year from its operations on the back of newly opened facilities, including the 5.8-MW Tibag power plant.

    It is currently constructing a 4.5-MW hydropower plant in Quezon and a 20-MW facility in Bukidnon province. Both are scheduled for full commercial operations in the first quarter of 2025.

    Repower is also set to construct three more hydropower plants in Northern Luzon next year.

    Full article here

  • November 16, 2023 - Repower Energy launches 8th run-of-river hydropower plant

    Repower Energy Development Corp. (REDC) has started the commissioning phase of its 1.4-megawatt (MW) run-of-river hydropower plant in Quezon province, the company said on Wednesday.

    In a media release on Wednesday, REDC, the pure hydropower subsidiary of Pure Energy Holdings Corp., said its newest hydropower plant is expected to have an annual generation of 8 gigawatts-hour.

    The plant is operated by an affiliate, Blue Energy Holdings and Management Corp.

    “We are proud to have finally completed this meaningful project that certainly benefits our stakeholders, despite the challenges encountered. We thank our many partners for the support in making this project a reality,” Blue Energy President and Chief Executive Officer Christopher John A.D. Tiu said.

    The hydropower plant is the company’s eighth run-of-river hydropower plant. It is located between the operating Upper Labayat and Tibag plants.

    The three hydropower plants are connected via a 69-kilovolt transmission line, which is in turn linked to the power grid operated by the National Grid Corp. of the Philippines.

    REDC President Eric Peter Y. Roxas said 2023 “has been truly a period of aggressive expansion to provide clean energy to under-electrified communities in provinces.”

    He said the hydropower plant in Brgy. Labayat “is a testament to the success we are currently experiencing.”

    “We look forward to continuing enhancing our services to the key markets we operate in so that we can uplift our stakeholders’ standards of living,” he added.

    In June, REDC commissioned its 5.8-MW Tibag project, which is the seventh run-of-river hydropower plant in its portfolio.

    REDC is currently constructing a 4.5 MW hydropower plant in Quezon and a 20 MW plant in Bukidnon. Both plants are targeted to start operations by the fourth quarter of 2025.

    The company said that it has three more hydropower projects in the pipeline located in Northern Luzon that will start construction in 2024.

    Full article here

  • July 25, 2023 - Repower raises P1.15 billion from IPO

    Full article here

  • July 25, 2023 - Tiu-led Repower gains on stock trading debut

    Hydropower company Repower Energy Development Corp. completed the country’s third initial public offering (IPO) for the year as it raised P1.15 billion through the sale of shares.

    The company, which is listed under the stock symbol REDC, closed 0.8 percent higher at P5.04 per share during its trading debut on Monday. The IPO shares were earlier sold at P5 each.

    Hydropower company Repower Energy Development Corp. completed the country’s third initial public offering (IPO) for the year as it raised P1.15 billion through the sale of shares.

    The company, which is listed under the stock symbol REDC, closed 0.8 percent higher at P5.04 per share during its trading debut on Monday. The IPO shares were earlier sold at P5 each.

    Repower, led by businessman Dexter Tiu, is the latest public listing in 2023 after renewable power firm Alternergy Holdings and computer gadgets retailer Upson International Corp.

    It comes as larger companies, including billionaire Enrique Razon Jr.’s Prime Infrastructure Capital Inc. and the planned real estate investment trust IPO of the Sy family’s SM Prime Holdings Inc., delayed their listing plans due to volatile market conditions.

    PSE president Ramon Monzon earlier expected as many as 14 IPOs in 2023. He said, however, they were still targeting to grow capital market fundraising by 44 percent to P160 billion this year.

    Repower’s successful public debut came as it secured Japan-listed TOKAI Holdings Corp. as an anchor investor when the latter acquired a third of the IPO shares.

    IPO proceeds will be used to partially fund the company’s 15 Megawatt Pulanai (Pulangi) in Valencia City, Bukidnon and the 4.5 megawatts (MW) Piapi power plant located in Mauban, Quezon.

    Repower said in its IPO prospectus it would also invest in other forms of renewable power. Repower operates six hydropower plants with a combined capacity of 10.146 MW.

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

    In an earlier statement, Repower said it had a net income of P168 million last year and this was projected to grow to P300 million by the end of this year.

    Full article here

  • July 25, 2023 - Repower up in market debut

    MANILA, Philippines — Repower Energy Development Corp. (REDC) successfully made its debut on the Philippine Stock Exchange yesterday, closing slightly higher than its initial public offering price of P5.04 per share.

    REDC is a subsidiary of Pure Energy Holdings Corp., which also planned to list back in 2017 but did not push through with its IPO.

    “Pure Energy’s IPO plans then may not have materialized but today, six years later, PSE welcomes its subsidiary REDC to the exchange’s growing roster of listed renewable energy firms.

    A number of companies have recently deferred their IPO plans purportedly due to poor market conditions.

    They were apprehensive that they were not able to get the IPO price they want...For me, such apprehension is misplaced.

    I believe there is no wrong time for a company to do an IPO. When you need to raise capital for your operations, go for your IPO.

    The IPO price is not and should not be the be all and end all for doing an IPO rather an IPO is just the beginning for a company as it utilizes the IPO proceeds to grow and expand,” PSE president and CEO Ramon Monzon said yesterday.

    Tokyo Stock Exchange-listed TOKAI Holdings Corp. participated in REDC’s IPO as an anchor investor. The Japan-based listed conglomerate, which is involved in various sectors such as gas, solar power, and real estate, took a 32.5 percent stake out of REDC’s IPO.

    Eric Peter Roxas, president and CEO of REDC, said the company is taking advantage of the synergies available to the company as a result of its partnership with TOKAI.

    During yesterday’s listing, Roxas said that by going public, REDC is able to enhance its value for its shareholders and stakeholders.

    For its public listing, REDC successfully raised P1.15 billion by offering common shares at P5 per piece.

    REDC offered a total of 200 million common shares with an over-allotment option of 30 million common shares.

    REDC intends to use the proceeds to fund the equity portion of its hydropower projects, the development and acquisition of renewable energy projects, and operating and working capital requirements.

    At present, the company operates six hydropower plants with a combined capacity of 10.146 megawatts.

    Earlier, it successfully commissioned a new power plant in Mauban, Quezon.

    Full article here

  • July 25, 2023 - Repower bucks PSEi dip, gains on market debut

    REPOWER Energy Development Corp. officially went public on Monday, July 24, trading and ending the day higher and also defying an overall stock market dip.

    The firm, which raised a little over P1 billion from the sale of 230 million shares at P5 apiece, opened at P5.01 and traded as high as P5.20 before closing 0.8 percent up at P5.04.

    The benchmark Philippine Stock Exchange index (PSEi), meanwhile, fell by 0.25 percent to 6,631.25 as investors opted for caution ahead of President Ferdinand Marcos Jr.'s State of the Nation Address.

    PSE President and CEO Ramon Monzon lauded Repower for pushing through with its initial public offering (IPO) despite timing concerns.

    "I believe there is no wrong time for a company to do an IPO," he said. "When you need to raise capital for your operations, go for your IPO."

    "The IPO price is not and should not be the be-all and end-all for doing an IPO," Monzon added. "Rather, an IPO is just the beginning for a company as it utilizes the IPO proceeds to grow and expand its businesses."

    Repower, the PSE chief continued, was rewarded for its decision to push ahead despite weak market conditions.

    "Repower Energy was able to raise its target amount of capital and at the indicative price of P5.00 per share initially set for its IPO," he said.

    "More impressive is the fact that the company was able to attract the Tokyo Stock Exchange-listed Tokai Holdings Corporation to be an anchor investor in its maiden offering."

    Repower President and CEO Eric Peter Y. Roxas thanked all who made the listing possible and said the firm would continue pursuing renewable energy projects to meet the country's needs.

    "This is the very reason why we are here: to be able to generate more funds so we can build more plants to enhance shareholder value and, in our own small way, contribute to saving the environment and uplifting the lives of our fellow Filipinos," he added.

    Repower last month said that Tokai would be buying 32.5 percent of the IPO shares, in return for gaining a board seat on observer status.

    The offer period began on June 30 and ended on July 14. China Bank Capital Corp. was the sole issue manager, lead underwriter, and bookrunner for the transaction.

    Repower said the IPO proceeds would be used to fund its Pulanai (Pulangi) and Piapi micro hydropower projects, the development and/or acquisition of renewable energy projects, and operating and working capital requirements.

    Full article here

  • July 25, 2023 - Repower Energy shares gain in P1.15-billion IPO

    REPOWER Energy Development Corp. (REDC) saw its shares gain four centavos during its initial public offering (IPO) on Monday where it raised P1.15 billion to fund the expansion of its renewable energy portfolio.

    “We are now more mature with our track record of developing and managing hydropower plants with sustainable and exponential growth,” Repower Energy President Eric Peter Y. Roxas said.

    “We believe that by going public we can further enhance our value for the benefit of all our shareholders,” he added.

    For its IPO, the company offered 200 million primary common shares, with an over-allotment option of up to 30 million shares, priced at P5 apiece.

    Repower Energy opened at P5.01, rising as high as P5.20 before closing at P5.04 per share. It trades on the main board of the Philippine Stock Exchange (PSE) under the stock symbol REDC.

    The company’s offering attracted participation from Japan-based listed company TOKAI Holdings Corp. It previously said that the foreign firm would take about a 32.5% stake in Repower Energy, earning it a board seat on an observer status.

    “We look forward to a long and fruitful business relationship with them in the days to come,” Mr. Roxas said.

    Repower Energy said proceeds from the offering would partially fund the equity portion of the 15-megawatt (MW) Pulanai or Pulangi micro-hydroelectric power plant in Valencia City, Bukidnon, and the 4.5-MW Piapi hydropower plant in Mauban, Quezon.

    Proceeds will also be used for the development and acquisition of renewable energy projects, and for operating and working capital requirements.

    In a statement on Monday, PSE President and Chief Executive Ramon S. Monzon said Repower Energy’s decision to go ahead with its maiden offering amid the deferrals by others goes with his belief that “there is no wrong time for a company to do an IPO.”

    “When you need to raise capital for your operations, go for your IPO. The IPO price is not and should not be the be-all and end-all for doing an IPO. Rather, an IPO is just the beginning for a company as it utilizes the IPO proceeds to grow and expand its businesses,” Mr. Monzon said.

    The offer period for Repower Energy’s IPO began on June 30 and ended on July 14. The company tapped China Bank Capital Corp. as the sole issue manager, lead underwriter, and sole bookrunner for the offering.

    Repower Energy is a subsidiary of Pure Energy Holdings Corp., an investment holding company that aims to strategically acquire assets, develop sustainable natural resources, and be a basic service provider for the needs of the community.

    Aside from Repower, the parent firm’s subsidiaries include Just Solar Corp., Pure Geothermal, Inc., and Tubig Pilipinas Group, Inc.

    Full article here

  • July 25, 2023 - Repower share price little changed on market debut

    The share price of Repower Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., was little changed during its debut in the Philippine Stock Exchange (PSE) on Monday.

    Repower’s shares closed less than 1 percent higher to P5.04 from the initial public offering (IPO) price of P5. It opened at P5.01 before climbing to P5.20, but almost succumbed to profit-taking during the afternoon trade.

    “The listing of Repower Energy and Development Corp. or REDC was indeed a long and an eye-opening journey. Since September of 2022 or so, we had to hold weekly meetings and work through a lot of lists, a long list of regulatory requirements,” Eric Peter Y. Roxas, president and CEO of Repower, said during his speech.

    “This is the very reason why we are here today to be able to generate more funds. So we can build more plants to enhance shareholder value and in our own small way, contribute to preserving the environment and uplifting the lives of our fellow Filipinos.”

    A total of 200 million common shares at P5 per share has been offered to the public, with an over-allotment option that allows for the sale of up to 30 million common shares.

    Meanwhile, the benchmark PSE index fell by 16.31 points to close at 6,631.25, after posting gains for three consecutive days.

    “Investors were also waiting for the President’s State of the Nation Address later which would be crucial in shaping investors’ sentiment. Given this, many stayed on the sidelines with the net market value turnover recording at P2.77 billion, lower than this month’s average so far of P3.93 billion,” Claire Alviar, Research and Engagement Officer at Philstocks Financial Inc., said.

    Repower said Tokai Holdings Corp., a Japan-based conglomerate with interests in sectors such as gas, solar power and real estate, served as an anchor investor in its IPO.

    Tokai has committed to purchase up to 32.5 percent of shares available for sale in the IPO, a transaction that could result in the ownership of almost 10 percent of its post-IPO outstanding shares.

    The primary shares have gross proceeds of about P1 billion for the company.

    Of the primary proceeds, the company plans to use it to fund the equity portion of its hydropower projects, the development and acquisition of renewable energy projects and operating and working capital requirements.

    In particular, the company will use the proceeds to fund the equity portion of the 15-megawatts Pulanai MHP project located in Bukidnon and the equity portion of the 4.5MW Piapi MHP project in Quezon Province.

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

    Full article here

  • July 25, 2023 - Repower closes up at IPO

    Repower Energy Development Corp. closed up P0.04 to P5.04 on it listing day yesterday.

    Repower sold to the public 230 million common shares, divided into an initial 200 million primary shares and another 30 million secondary shares covering the greenshoe option at an offer price of P5.

    The primary shares grosses for the company P1 billion.

    The company plans to use part of the proceeds to fund the equity portion of its hydropower projects, the development and/or acquisition of renewable energy projects, and operating and working capital requirements.

    In particular, the company will use the proceeds to fund the equity portion of the 15-megawatts (MW) Pulanai MHP project located in Bukidnon; the fund the equity portion of the 4.5MW Piapi MHP project in Quezon Province.

    The offer ran between June 30 and July 14. China Bank Capital Corp. served as the sole issue manager, lead underwriter, and sole bookrunner for the transaction.

    The initial public offering attracted Japan’s TOKAI Holdings Corp., which acquired 32.5 percent of shares for sale.

    Tokai, which has exposures in the businesses of gas, solar power, and real estate, will have a seat in the company’s board of directors on an observer status.

    Full article here

  • July 24, 2023 - Repower Energy Development IPO is today

    Repower Energy Development [REDC 5.00] will start its life on the PSE this morning, after what was generally a very quiet offer period. There were a total of 230 million shares available between a 200 million primary share firm offer and a 30 million share over-allotment option that was funded with secondary shares. REDC is a renewable energy developer that specializes in run-of-river hydro projects, which look to generate power through smaller rivers without the need for massive flow-disrupting dams. All of the proceeds from the sale of the primary shares are slated to be put toward project development.

    IPO Allocation Poll: Lured with the chance to win one of two P500 Grab Food vouchers, 120 readers responded to the poll and provided feedback on the REDC IPO, the number of shares requested, and the number of shares received. Of the 120 readers polled, 29% applied to purchase IPO shares, while 71% did not.

    Allocation rates: Readers reported requesting 437,700 IPO shares worth P2.18 million, and receiving an aggregate allocation of 324,200 worth P1.62 million, for a 74% allocation rate. The most popular method of purchase was the PSE EASy platform, which had an allocation rate of 95%. The top broker by volume was COL Financial with an allocation rate of 97%. The worst-performing broker, by allocation rate, was AP Securities with 0%. Only 10% of readers reported receiving any feedback from their broker that the IPO was oversubscribed.

    Reasons for avoiding the IPO: There were a number of reasons why the 85 non-purchasing readers avoided the REDC IPO, but the most popular was “market conditions” (40%), followed by “seemed to expensive” (15%), “not the right fit for my portfolio” (13%), and “no money” (12%). A few write-in responses gave some insight into other issues that are weighing on retail investors’ minds, such as “will wait first”, “majority of IPOs are down on the first day”, “IPOs are mostly failures”, and, of course, “sleepy”. I feel that one.

    Is it oversubscribed? Probably not. We don’t have insight into the institutional tranche of the IPO, but we do have some insight into the broker tranche and the PSE EASy tranche, and that insight leads me to think that the vast majority of requests that were made by retail were satisfied. While there were a few fractional allocations noted by readers that requested shares from specific brokers, 88% of the unallocated shares came from a single reported request of 100,000 shares with AP Securities that went completely unallocated. Was that report accurate? I don’t know. I don’t like to eliminate data points, but if we do leave that one out-sized point aside, the overall allocation rate jumps up to 96% with only a few minor fractional allocations from AB Capital and COL Financial. From a retail perspective, it’s safe to say that this IPO was not oversubscribed.

    MB Bottom-line: Like nearly all IPOs these days, REDC will have a stabilization fund, so its first day of trading will not subject the stock to the raw, uncensored opinion of the market. It’s going to have access to a modest pool of artificial demand if the price dips below the P5.00/share IPO offer price. The question is, will REDC need it? I don’t know for certain, but what I do know is that retail was not extraordinarily interested in this IPO, and recent renewable energy IPOs like Alternergy [ALTER 1.00 3.9%; 43% avgVol] and Raslag [ASLAG 1.40; 282% avgVol] are down 19% and 30% from their IPO prices, respectively.

    If the greater market manages to get some momentum and start to build a case for a new bull run, perhaps REDC can catch that wave and avoid the losing fate of every single non-REIT IPO for the past 18 months. Unfortunately, the opposite is true as well. As the PSE brushes up against this major point of resistance, there’s just as great a chance that the market heads back down into the low-6000s, dragging REDC down with it.

    So while the stabilization fund will provide some support, it’s not a guarantee against loss, and investors can’t rely on a large cohort of unsatisfied IPO demand to add much (if any) wind to REDC’s sails. Out of the last 13 IPOs, only one has lost on its opening day (Balai Ni Fruitas [BALAI 0.52 1.9%; 17% avgVol] [-7%]), and two have finished flat (ALTER and Vista REIT [VREIT 1.66 0.6%; 134% avgVol]). Everything else has finished in the positive. But in our market, it’s not what happens on the first day that we need to be careful with, it’s what happens after. Long-term, only SP New Energy [SPNEC suspended] is trading consistently above its IPO price. That said, I love IPOs because you just don’t know what’s going to happen. Now if you’ll excuse me, I need to make some popcorn before they ring the opening bell!

    Full article here

  • July 24, 2023 - REDC up 0.80% on PSE debut

    Renewable energy firm Repower Energy Development Corporation (REDC) marked its listing at the Philippine Stock Exchange with a 0.80 percent improvement in its share price to P5.04 per share from its initial public offering price of P5.00.

    While the stock reached an intraday high of P5.20 per share, it eventually edged lower as the market in general succumbed to profit-taking after last week’s gains.

    REDC offered to the public 200 million new common shares plus an overallotment option of up to 30 million common shares to be sold by the company’s shareholder Pure Energy Holdings Corporation.

    PSE President Ramon S. Monzon said “(REDC) braved the IPO market even as bigger companies dared not go. Needless to say, it was amply rewarded for its decision. It was able to raise its target amount of capital and at the indicative price of P5.00 per share initially set for its IPO.”

    “More impressive is the fact that the company was able to attract the Tokyo Stock Exchange-listed Tokai Holdings Corporation to be an anchor investor in its maiden offering,” he added.

    Monzon noted that, “A number of companies have recently deferred their IPO plans purportedly due to poor market conditions. They were apprehensive that they might not be able to get the IPO price they want or were promised.”

    “For me, such apprehension is misplaced. I believe there is no wrong time for a company to do an IPO. When you need to raise capital for your operations, go for your IPO. The IPO price is not and should not be the be-all and end-all for doing an IPO,” he said.

    Monzon explained that, “Rather, an IPO is just the beginning for a company as it utilizes the IPO proceeds to grow and expand its businesses. It has been proven many times at PSE that when a listed company has a good story, promising business prospects, and capable and talented management, the company’s stock price will surely reflect the same.”

    The bulk of the funds raised by REDC from the IPO will be used to partially fund the equity of two mini hydroelectric power plants.

    Construction on these power plants started early this year. They are expected to start commercial operations in the fourth quarter of 2025 and will add a total of 19.5 megawatts in capacity to REDC’s portfolio.

    REDC 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.

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

    Full article here

  • July 24, 2023 - Repower Development lists in PSE after raising P1.15b from initial public offering

    Renewable energy producer Repower Development Corp. on Monday listed its shares on the Philippine Stock Exchange after raising P1.15 billion from an initial public offering.

    The stock opened at P5.01 and hit a high of P5.20 before closing at P5.04, up P0.04 from its IPO price of P5.

    The company raised P1.15 billion in gross proceeds from the sale of 200 million shares, with an over-allotment option that allowed it to offer another 30 million common shares.

    REDC president Eric Peter Roxas said during the listing ceremony the proceeds would enable it to build more renewable plants and enhance shareholder value.

    PSE president and chief executive Ramon Monzon commended REDC for braving the market even as several companies had deferred similar plans because of the current the market conditions.

    REDC said it would use the proceeds to fund the equity portion of its hydropower projects, the development and acquisition of renewable energy projects and operating and working capital requirements.

    The company, a subsidiary of Pure Energy Holdings Corp., earlier said it planned to spend 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 company’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 facilities.

    PSE president and chief executive Ramon Monzon commended REDC for braving the market even as several big had deferred their planned IPOs because of the market conditions.

    REDC is the third company to list in the local bourse this year after gadgets retailer Upson International Corp. and renewable energy firm Alternergy Holdings Corp.

    Full article here

  • July 24, 2023 - Repower raises P1.15 billion from IPO, lists in stock exchange

    Renewable energy producer Repower Development Corp. on Monday listed its shares on the Philippine Stock Exchange after raising P1.15 billion from an initial public offering.

    REDC president Eric Peter Roxas said during the listing ceremony the proceeds would enable it to build more renewable plants and enhance shareholder value.

    PSE president and chief executive Ramon Monzon commended REDC for braving the market even as several companies had deferred similar plans because of the current the market conditions.

    REDC said it would use the proceeds to fund the equity portion of its hydropower projects, the development and acquisition of renewable energy projects and operating and working capital requirements.

    Full article here

  • July 24, 2023 - Repower Energy shares nudge higher on listing debut amid cautious trading

    Businessman Dexter Tiu’s Repower Energy Development Corp. (REDC) made its stock market debut Monday with a slight uptick in share prices, despite subdued trading conditions.

    Having successfully concluded its initial public offering, REDC raised a total of P1.15 billion to fuel its ambitious expansion plans.

    The company’s shares showed promise, hitting an intraday high of P5.20 per share before retracing to close at P5.04 per share, representing a modest 0.8 percent increase over its IPO price of P5.

    The IPO proceeds are set to play a vital role in REDC’s strategic initiatives, with funds earmarked for partially financing two mini hydroelectric power plants, acquiring and developing renewable energy projects, as well as catering to operational and working capital requirements.

    Philippine Stock Exchange president and CEO Ramon S. Monzon lauded REDC for proceeding with its maiden offering, a bold move amid a market landscape where larger firms have been postponing their IPO plans in response to sluggish conditions.

    “I believe there is no wrong time for a company to do an IPO. When you need to raise capital for your operations, go for your IPO. The IPO price is not and should not be the be-all and end-all for doing an IPO. Rather, an IPO is just the beginning for a company as it utilizes the IPO proceeds to grow and expand its businesses,” Monzon said.

    An especially notable development in REDC’s IPO journey is the participation of Tokai Holdings Corporation, a Tokyo Stock Exchange-listed conglomerate, as an anchor investor.

    Tokai Holdings, with diverse interests spanning gas, solar power, and real estate, secured a 32.5 percent stake in REDC’s offering. In return, REDC granted Tokai a board seat on an observer status.

    Full article here

  • July 7, 2023 - DragonFi Exclusive Interview with Repower Energy Development Corporation President Eric Peter Y. Roxas

    Source video here

  • July 5, 2023 - Repower Energy IPO seen to benefit from focus on hydropower projects

    FAVORABLE government policies and the global shift toward clean energy sources present opportunities for Repower Energy Development Corp. or REDC, analysts said, as the company started offering its shares to the public.

    “REDC’s competitive advantage lies in its focus on renewable energy, specifically hydropower projects,” said Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc.

    “Hydropower is a reliable and sustainable source of energy, and with the increasing global demand for clean energy, REDC’s emphasis on renewable assets positions it favorably in the market,” he said in a Viber message.

    In its initial public offering (IPO), Repower Energy is selling 200 million primary common shares priced at P5 apiece, with an over-allotment option of up to 30 million shares.

    Pure Energy Holdings Corp.’s subsidiary plans to list on the Philippine Stock Exchange (PSE) tentatively on July 24. Its offer period is from June 30 until noon on July 14.

    Repower Energy’s final offer price suggests “investor confidence,” Mr. Arce said, adding that the company’s existing portfolio of hydropower projects can fuel investor appetite.

    IPO proceeds, which are expected at about P1.15 billion, will fund the company’s hydropower projects and the development of its other renewable energy (RE) projects.

    For Mr. Arce, going public shows the company’s “operational capabilities and experience in the sector,” which he said is attractive for investors seeking opportunities in the RE sector.

    “REDC is a potential retail play, given its small offer size of about P1 billion and its renewable energy growth narrative,” Unicapital Securities, Inc. Senior Equity Research Analyst Carlos Angelo O. Temporal said.

    Regina Capital Development Corp. Head of Sales Luis A. Limlingan said what sets the company apart from the other RE firms that went public “is that it focuses on the development of hydroelectric power plants.”

    Repower Energy is planning to expand its installed energy capacity by 1 gigawatt (GW) in the next five years.

    “A public listing is a key milestone for REDC, with the majority of the use of proceeds allocated for the completion of two of its ongoing projects. This will lead towards fulfilling our goal of uplifting Filipinos’ living standards through clean, accessible, and affordable energy consistent with the United Nations’ Sustainable Development Goals,” said Eric Peter Y. Roxas, president and chief executive officer of Repower Energy.

    The Philippines’ energy sector is seen to have abundant potential in the renewable energy field considering the country’s vast untapped indigenous resources.

    The Department of Energy also issued policies favoring the sector, including opening RE projects to full foreign ownership and issuing a policy framework for offshore wind energy projects, which is considered an emerging technology.

    Full article here

  • July 4, 2023 - REDC begins initial public offering

    Repower Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., said Tuesday it commenced its initial public offering after finalizing the IPO terms.

    The company is offering 200 million common shares at P5 apiece to the public, with an over-allotment option that allows for the sale of another 30 million common shares.

    The offering period started June 30 at 9 a.m. and will end on July 14 at 12 noon. The listing date was tentatively set on July 24.

    China Bank Capital is the sole underwriter for the offering.

    REDC said TOKAI Holdings Corp.— a Japan-based conglomerate with interests in sectors such as gas, solar power and real estate —- may serve as an anchor investor in REDC’s IPO.

    TOKAI agreed to purchase up to 32.5 percent of the shares available for sale in the IPO, a transaction that could result in the ownership of almost 10 percent of REDC’s post-IPO outstanding shares.

    “A public listing is a key milestone for REDC, with majority of the use of proceeds allocated for the completion of two of its ongoing projects. This will lead towards fulfilling our goal of uplifting Filipinos’ living standards through clean, accessible, and affordable energy consistent with the United Nations’ Sustainable Development Goals,” said REDC president and chief executive Eric Peter Roxas.

    “We look forward to marking a new chapter in our history — a chapter full of growth and potential,” he said.

    Full article here

  • June 29, 2023 - REDC expands renewable footprint

    MANILA, Philippines — Soon-to-list Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings Corp., has expanded its energy portfolio with the commissioning of its 5.8 megawatt Tibag run-of-river hydropower plant in Mauban, Quezon.

    “We are pleased to mark the successful commissioning of our newest hydropower plant as this is another milestone for us in expanding our footprint in the renewable energy sector,” REDC president Eric Peter Roxas said.

    “The Tibag hydropower plant will be a key asset in our goal toward uplifting the living standards of rural and under electrified communities through clean, renewable energy,” Roxas said.

    According to its projections, the plant will contribute P215 million in EBITDA annually.

    With around six months of operation up until the end of 2023, the plant is expected to be a significant driver to REDC’s year-on-year growth in net income for the year.

    The Tibag hydropower plant’s annual energy generation will be over 40 GW-hr, equivalent to the generation of a 40MW solar farm or a 20-MW wind farm. In addition, the plant provided jobs to over 120 personnel during the construction period, according to REDC.

    The company’s next project would be its eighth hydropower plant, a 1.4-MW Lower Labayat plant, also in Quezon, which will come online soon.

    REDC plans to debut on the Philippine Stock Exchange (PSE) on July 24 with the final offer price set at P5 per share.

    “The final number of offer shares is 200 million primary common shares with an over-allotment option of up to 30 million secondary common shares, and the final offer price is P5 per share,” REDC said.

    Full article here

  • June 27, 2023 - Repower adds new mini-hydro plant to expanding portfolio

    MANILA -The Tiu family’s Repower Energy Development Corp. has added another mini-hydro power plant to its portfolio, following the inauguration and commissioning of its 5.8-megawatt (MW) Tibag run-of-river plant in Mauban, Quezon province.

    According to the company, the plant is expected to contribute P215 million in Ebitda (earnings before interest, taxes, depreciation and amortization) annually.

    It is also estimated to generate 40 gigawatt-hours of energy every year, equivalent to the generation capacity of a 40-MW solar farm or a 20-MW wind farm.

    “The Tibag hydropower plant will be a key asset in our goal toward uplifting the living standards of rural and under electrified communities through clean, renewable energy,” said Repower president Eric Peter Roxas.

    Repower, a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., said the facility was the seventh of its kind under the company’s portfolio of mini-hydro projects.

    At present, Repower has six other hydro facilities in Laguna, Quezon and Camarines Sur provinces with a combined capacity of 10.15 MW.

    Repower, which is set to make its Philippine Stock Exchange trading debut on July 24, earlier said it intended to diversify its portfolio by pursuing wind projects, beginning with a 200-MW wind farm in Quezon.

    Roxas also said they planned to further grow their renewable energy portfolio in the next five years by building bigger hydropower projects with a potential combined capacity of 1,000 MW.

    Full article here

  • June 27, 2023 - REDC expands RE footprint via hydro

    The Tibag hydropower plant will be a key asset in our goal of uplifting the living standards of rural and under-electrified communities through clean, renewable energy

    The renewable energy supply in Mauban, Quezon will be augmented through the recently commissioned 5.8-megawatt Tibag run-of-river hydropower plant built by Repower Energy Development Corporation or REDC.

    “We are pleased to mark the successful commissioning of our newest hydropower plant as this is another milestone for us in expanding our footprint in the renewable energy sector,” Eric Peter Roxas, president of REDC, said Monday.

    “The Tibag hydropower plant will be a key asset in our goal towards uplifting the living standards of rural and under-electrified communities through clean, renewable energy,” he added.

    Seventh of its kind

    Being the seventh of its kind under the company’s hydropower portfolio, the project is expected to contribute P215 million in earnings before interest, taxes, depreciation, and amortization or EBITDA annually to REDC.

    EBITDA is one of the most widely used measures of a company’s financial health and ability to generate cash.

    Meanwhile, with around six months of operation up until the end of the year, the plant is also expected to be a significant driver of REDC’s net income growth for the year.

    The Tibag hydropower plant’s annual energy generation is projected to be over 40 GW-hr, equivalent to the generation of a 40-MW solar farm or a 20-MW wind farm. Additionally, the plant provided jobs to over 120 personnel during the construction period.

    Eighth hydropower plant

    According to REDC, its eighth hydropower plant, the 1.4-MW Lower Labayat plant, is expected to go online once the transmission operator energizes the transmission line from the powerhouse in the next few weeks.

    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 26, 2023 - Repower Energy commissions 5.8-MW hydropower plant in Quezon

    Repower Energy Development Corp. said Monday it successfully commissioned its 5.8-megawatt Tibag run-of-river hydropower plant in Mauban, Quezon.

    “We are pleased to mark the successful commissioning of our newest hydropower plant as this is another milestone for us in expanding our footprint in the renewable energy sector,” REDC president Eric Peter Roxas said.

    “The Tibag hydropower plant will be a key asset in our goal towards uplifting the living standards of rural and under electrified communities through clean, renewable energy,” he said.

    REDC expects the new hydro facility to contribute P215 million in earnings before interest, depreciation and amortization annually.

    The company said the plant was expected to be a significant driver to REDC’s year-on-year growth in net income for the year.


    Repower Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., announces the successful commissioning of its 5.8-megawatt Tibag run-of-river hydropower plant in Mauban, Quezon. The plant represents the 7th of its kind under REDC’s hydropower portfolio. Attending the inauguration of the plan are executives and engineering team of REDC led by (sixth from left) Pure Energy shareholder Harald Tomintz, REDC president Eric Roxas, REDC independent director Antonio Carag, Pure Energy chairman Dexter Tiu and Pure Energy shareholder Joseph Lee (right).

    The Tibag hydropower plant’s annual energy generation will be over 40 gigawatt-hours, equivalent to the generation of a 40-MW solar farm or a 20-MW wind farm.

    Meanwhile, REDC said it ensured that the 15-kilometer access roads and a bridge it built for the Tibag hydropower plant would be used by the indigenous communities living in the area.

    This will help the Dumagat tribe bring copra, fruits and livestock to the market. They can also bring their children to school safely compared to crossing the river by raft.

    “Our commitment to sustainability is not just about clean energy nor limiting the possible adverse impact of our operations to stakeholders. It also extends to ensuring that communities will get to benefit from the farm to market roads we have built,” Roxas said.

    The facility is the seventh hydro project of REDC. It will be followed by the 1.4-MW Lower Labayat plant, which will come online as soon as transmission operator National Grid Corp. of the Philippines energizes the transmission line from the powerhouse in the next few weeks.

    Full article here

  • June 27, 2023 - Repower Energy tests Quezon hydropower plant

    REPOWER Energy Development Corp. is further expanding its renewable energy portfolio with the commissioning of its 5.8-megawatt (MW) Tibag run-of-river hydropower in Mauban, Quezon.

    “We are pleased to mark the successful commissioning of our newest hydropower plant as this is another milestone for us in expanding our footprint in the renewable energy sector,” Eric Peter Y. Roxas, president of Repower Energy, said in a statement on Monday.

    The power plant, which is the company’s seventh hydroelectric facility, is expected to generate about 40 gigawatt-hours a year.

    “The Tibag hydropower plant will be a key asset in our goal towards uplifting the living standards of rural and under-electrified communities through clean, renewable energy,” Mr. Roxas said.

    The energy company also said its 1.4-MW Lower Labayat hydropower plant is expected to come online with the energization of the transmission line from the powerhouse in the coming weeks.

    “Our commitment to sustainability is not just about clean energy nor limiting the possible adverse impact of our operations to stakeholders. It also extends to ensuring that communities will get to benefit from the farm-to-market roads we have built,” Mr. Roxas said.

    Repower Energy, a subsidiary of Pure Energy Holdings Corp. is planning to expand its installed energy capacity by 1,000 MW in five years, with its portfolio mainly focusing on hydropower projects.

    The company, which plans to list on the Philippine Stock Exchange tentatively on July 24, is expected to raise about P1.15 billion through an initial public offering (IPO).

    IPO proceeds will fund expansion plans, including its mini hydroelectric power projects in Bukidnon and Quezon, as well as the development of other renewable energy projects.

    Full article here

  • June 26, 2023 - Dexter Tiu’s REDC energizes 5.8MW Tibag hydropower plant in Quezon

    Repower Energy Development Corp. (REDC), a subsidiary of businessman Dexter Tiu’s Pure Energy Holdings Corp., has successfully commissioned its latest renewable energy project, the 5.8 megawatt (MW) Tibag run-of-river hydropower plant.

    Situated in Mauban, Quezon, this facility marks the seventh addition to REDC’s growing hydropower portfolio.

    REDC anticipates that the Tibag hydro plant will contribute an estimated annual EBITDA of P215 million.

    With approximately six months of operation slated until the end of 2023, the plant is projected to significantly drive REDC’s net income growth for the year.

    In terms of energy generation, the Tibag hydropower plant is expected to produce over 40 gigawatthours annually. It is equivalent to the energy output of a 40MW solar farm or a 20MW wind farm.

    During the construction phase, the plant created employment opportunities for more than 120 individuals. This underscores REDC’s commitment to fostering economic growth and sustainability within local communities.

    Eric Peter Y. Roxas, president of REDC, emphasized the pivotal role the Tibag hydropower plant will play in REDC’s mission to enhance the quality of life for rural and underserved communities through clean, renewable energy solutions.

    Full article here

  • 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

  • December 21, 2022 - Landbank lends P2.6 billion for hydropower plant
    The Philippines Star
    Landbank said it inked the loan agreement with Cabanglasan Hydropower Corp., a wholly owned subsidiary of Repower Energy Development Corp.


    MANILA, Philippines — State-run Land Bank of the Philippines (Landbank) has extended a P2.6-billion financing for a hydropower plant project in Bukidnon as part of the country’s efforts to shift to clean energy.

    Landbank said it inked the loan agreement with Cabanglasan Hydropower Corp., a wholly owned subsidiary of Repower Energy Development Corp. (REDC).

    The P2.6-billion credit assistance will partially finance the construction of a 15-megawatt hydropower plant in Bukidnon that aims to contribute in advancing the country’s climate change mitigation and adaptation efforts.

    The run-of-river hydropower plant will be developed on the Pulangi River in Barangay Lumbayao in Valencia City to sustainably improve the quality and reliability of energy supply in nearby cities and towns in Bukidnon.

    Upon completion in 2025, the hydropower plant is estimated to power around 130,000 households in 15 municipalities in the province.

    Landbank said the stable energy supply is also expected to benefit Bukidnon’s local economy, particularly its tourism, agriculture and industrial sectors.

    Landbank president and CEO Cecilia Borromeo said the bank has been collaborating with REDC over the past years toward advancing clean, sustainable, and reliable sources of renewable energy.

    “We support local projects that aim to secure a safe and sustainable future for the country, as part of our broader commitment to help build sustainable and resilient communities,” Borromeo said.

    REDC president Eric Peter Roxas, for his part, said the firm has brought 10 renewable energy power plants to operations, of which six are run-of-river hydropower, contributing around 50MW of clean energy to the grid in the past six years.

    “We have several hydropower projects under construction and in the pipeline, which we intend to bring to operations in the near future to help the country transition into a clean renewable energy phase,” Roxas said.

    As of end-October, Landbank has approved a total of P20.1 billion in loans to 56 borrowers under its renewable energy program in support of local projects that harness solar, hydro, and biomass energy sources.

    The government has been emphasizing the need to bring down the country’s dependence on energy imports by developing renewable energy and indigenous sources.

    Data showed that only 29 percent of the country’s current energy mix comes from renewables. The Department of Energy would like to bring it up to 35 percent by 2030 or to 50 percent by 2040, as outlined in the Renewable Energy Roadmap.

    Full article at https://www.philstar.com/business/2022/12/21/2232138/landbank-lends-p26-billion-hydropower-plant

  • April 1, 2019 - Conglomerates rush to get into lucrative water supply business
    The Philippines Star

    MANILA, Philippines — Metro Manila may be facing a water shortage but outside the capital region, conglomerates are scrambling to get a share of the lucrative water supply business.

    Conglomerates are quietly growing their reach in different cities and provinces with plans to expand all the way to far-flung areas in the country.

    Lucio Tan-owned MacroAsia Corp., for instance, is targeting to expand its reach in more cities to supply water.

    Lucio “Bong” Tan Jr., the son and namesake of the taipan, said the company is growing its water business outside its flagship projects Nueva Vizcaya and Boracay.

    “We’re doing a lot of water projects...We helped clean Boracay as what Kap (Kapitan Lucio Tan) wanted. We’re going to up and coming cities, both urban and rural,” Tan told The STAR in a recent interview.

    He said MacroAsia would soon be in Mactan, Cebu and later on in different cities in Mindanao.

    “There are a lot more cities that need clean water,” Tan said.

    MacroAsia subsidiary MacroAsia Properties Development Corp. (MAPDC) created SNV Resources Development Corp. (SNVRDC) to operate a complete water works system in Solano, Nueva Vizcaya.

    Aside from this, MacroAsia through MAPDC, also fully owns Naic Water Supply Corp. (NAWASCOR) in Cavite and has a 67 percent stake in Boracay Tubi System Inc. (BTSI).

    Ayala Corp., the country’s oldest conglomerate, is also expanding its presence outside Metro Manila.

    Its Manila Water Philippines Ventures Inc. (MWVI) recently inked a joint venture agreement with Tubig Pilipinas for the overall development, improvement, and maintenance of Iloilo City’s water supply system.

    A city ordinance granted a 25-year franchise to the joint venture partnership with the intention to expand its services to the surrounding municipalities of Mandurriao, Arevalo, Molo, La Paz, Lapuz and Jaro.

    This is also where the mega townships of Ayala Land and Megaworld are located, as well as the SM Supermall, which is touted to be the second biggest shopping mall in the Visayas.

    “Tubig Pilipinas, together with Manila Water, is looking forward to service the people of Metro Iloilo by offering a safe and stable water supply system that can respond to their daily needs,” said Tubig Pilipinas president and CEO Ryan Yapkianwee.

    Tubig Pilipinas Group Inc. is engaged in the business of supplying, distributing, operating, and managing water systems. The company is currently operating in major cities and towns in Pangasinan, Isabela, Cavite and Negros. It is a subsidiary of Pure Energy Holdings Corp.

    Aside from this, Manila Water Philippines also supplies water in areas in Laguna, through LagunaAAA Water Corp. Boracay through Boracay Island Water Co., Clark through Water Corp. and other townships developed by Ayala Land.

    Its Cebu Manila Water Development Inc. also provides bulk water in the province of Cebu.

    Villar-owned Prime Water Ventures Inc., which is said to be the top water supplier outside Metro Manila, also has a planned joint venture with the Dasmariñas Local Water District for the water supply of all 75 barangays in Dasmariñas City.

    Aside from this, the company has several other water supply projects outside Metro Manila established through joint venture agreements with local water districts.

    Industry estimates show that the company already supplies more than 50 percent of the water needs outside Metro Manila.

    Full article at https://www.philstar.com/business/2019/04/01/1906161/conglomerates-rush-get-lucrative-water-supply-business

  • March 28, 2019 - Manila Water, Tubig Pilipinas secure 25-year Iloilo franchise
    The Philippines Star

    MANILA, Philippines — Subsidiaries of Manila Water Co. Inc. and Pure Energy Holdings Corp. have secured the franchise to upgrade Metro Iloilo’s water supply system.

    The consortium of Manila Water Philippines Ventures Inc. (MWVI) and Tubig Pilipinas Group Inc. (TPGI) recently inked a joint venture agreement (JVA) for the development, improvement, and maintenance of Iloilo City’s water supply system.

    “Tubig Pilipinas, together with Manila Water, is looking forward to service the people of Metro Iloilo by offering a safe and stable water supply system that can respond to their daily needs,” Tubig Pilipinas president and chief executive officer Ryan Yapkianwee said.

    Under the city ordinance granting the franchise for the JVA, the consortium will be responsible for the construction and operation of a reliable and adequate water supply system in Metro Iloilo.

    The 25-year franchise covers surrounding municipalities of Mandurriao, Arevalo, Molo, La Paz, Lapuz and Jaro.

    This is also where the mega townships of Ayala Land and Megaworld are located, as well as the SM Supermall, which is touted to be the second biggest shopping mall in the Visayas.

    Tubig Pilipinas said it is prepared to respond to the expected surge of demand by businesses for a more potable water supply in Iloilo City.

    “As more retail businesses and townships continue to invest in the city, our consortium will focus on improving existing water supply facilities and provide better water services to households and businesses for a steady water supply,” Yapkianwee said.

    The National Economic and Development Authority (NEDA) reported that Western Visayas enjoyed 8.4 percent GDP growth in 2017, making it the fourth fastest growing regional economy in the country.

    Iloilo City is considered as the economic and investments center of the region.

    The local government said a credible water system must be maintained in order to respond to the growing demands of Iloilo City.

    Last January, TPGI bagged the P600-million Nabua Water District (NAWAD) water supply deal in Camarines Sur, growing its footprint beyond the Visayas region.

    Under the deal, TPGI will be in charge of the water supply and septage systems of NAWAD for 30 years until the year 2049, and is renewable for another 20 years.


  • March 28, 2019 - Manila Water unit, Tubig Pilipinas bag Iloilo project
    Business World

    ILOILO CITY — Manila Water Philippine Ventures, Inc. (MWPV) and Tubig Pilipinas Group, Inc. (TPGI) have been granted a franchise by the local council to establish and operate a water distribution system in parts of Iloilo City.

    Councilor Plaridel C. Nava II, chair of the committee on public utilities and among eight that voted in favor of the ordinance, said the non-exclusive franchise valid for 25 years applies to MWPV and TPGI or their designated joint venture company.

    MWPV, a wholly owned subsidiary of the Ayala group’s Manila Water Company, Inc., already has a partnership with TPGI for a project in Malasiqui, Pangasinan.

    MWPV-TPGI tandem is the third to secure a franchise from the city council after South Balibago Resources, Inc. (SBRI), and the Villar group’s Prime Water Infrastructure Corp.

    Mr. Nava said the MWPV-TPGI partnership is expected to prioritize coverage of the Mandurriao district.

    “It appears that Manila Water applied for a franchise way ahead of the application of Prime Water whose water franchise has been approved a few months ago. That being so, there is no reason to deny the application of Manila Water when this committee and the same sanggunian (council) have granted the franchise of Prime Water, given the similarity of its application,” Mr. Nava said.

    In his committee report, Mr. Nava noted that MWPV presented its proposal on Nov. 15, 2017.

    “Majority of the people of Iloilo City have expressed their dissatisfaction with the current water system due to poor quality of service, recurrent water shortages, and a significant percentage of unserved areas in Iloilo City, hence the people have instead resorted to the alternative water rationing system,” the ordinance granting the franchise stated.

    Councilor Eduardo L. Peñaredondo also said that the city’s main water distributor, Metro Iloilo Water District (MIWD), has failed to cope with Iloilo’s growth.

    “MIWD has miserably failed to perform its duties and franchise and authority that has been given to them to deliver water to its inhabitants… We have to do our duty as representatives of the people in order to promote progress to our people,” Mr. Peñaredondo said.

    On the other hand, Councilor Ely A. Estante, who was among the five council members who abstained from the vote, said he first wants a clarification on whether the council has the power to grant such franchise.

    “Although there is lack of supply of water but at the same it is ultra vires or it is beyond the power of the SP (Sangguniang Panlungsod) to grant a franchise,” he said.

    MIWD has filed cases in court against the Iloilo City government and SBRI, and has said that it is preparing to do the same against Prime Water.

    Amarylis Josephine C. Castro, MIWD Finance Department manager and chairperson of Bulk Water Supply Project Management Team, reiterated their position that the city government has no authority to grant a franchise.

    “We maintain the same stand when they granted the franchise to Prime Water. Our stand remains that the authority to grant franchise is on the National Water Resources Board (NWRB) and not the city government,” she told BusinessWorld.

    Ms. Castro added that they are open to competition provided that the correct legal procedures are observed.

    “Water is not an exclusive thing. We are not questioning the exclusivity because water is a basic need. It is not the competition per se, in fact we welcome it, but it should be done in the legal process,” she said.

    For his part, TPGI President and CEO, Ryan Yapkianwee said in a statement that the company and Manila Water are “looking forward to service the people of Metro Iloilo by offering a safe and stable water supply system that can respond to their daily needs.”

    A unit of Pure Energy Holdings Corporation, TPGI is currently operating in cities and towns in Pangasinan, Isabela, Cavite, and Negros.


  • February 1, 2019 - Tubig Pilipinas bags Nabua water project
    BusinessWorld


    TUBIG PILIPINAS Group, Inc. has been awarded a P600-million joint venture project by the Nabua Water District to develop and handle the water supply and septage system of Nabua town in Camarines Sur province, the company said on Thursday.

    Ryan Yapkianwee, president and chief executive officer of Tubig Pilipinas, said the project moves the company closer to its goal of providing more efficient and cost-effective water supply systems in the Philippines, including the underserved areas.

    “We look forward to closing more long term contracts in the near future, that may include some areas in Mindanao and Northern Luzon,” he said in a statement.

    The notice of award for the Nabua project was given on Jan. 30. It covers the overall design, construction, and management of the water supply and septage system of the town’s water district.

    Tubig Pilipinas will be in charge of the water supply and septage systems of Nabua for 30 years until the year 2049. The contract is renewable for another 20 years.

    As of mid-2017, Nabua’s water district supplies water to 39 barangays of the municipality. It draws 60,000 cubic meters from Santiago Old Pumping Station and 45,000 cubic meters from Baao Water District and Iriga City Water District.

    Mr. Yapkianwee said the company is beginning to build its footprint in the Visayas, with several projects in the area.

    “We have a bulk water project currently supplying Bacolod City and expanding to phase 2. Our operations in Cadiz City are set to supply 4,000 households which is home to 20,000 people, and another is the Calbayog City concession that we recently closed in December,” he said.

    Tubig Pilipinas quoted Jayson Santiago Hernandez, chairperson of Nabua Water District joint venture selection committee, as saying: “We look forward to our partnership with Tubig Pilipinas. They have been serving sustainable waterworks systems all over the country and have proven to be capable of providing potable, safe and reliable water.”

    It described Nabua as a first class municipality with three existing potable water supply systems: Nabua Water District, Duran Water System and Sagumay Water System.

    Tubig Pilipinas, a unit of Pure Energy Holdings Corp., supplies, distributes, operates and manages water systems. It currently operates in cities and towns in Pangasinan, Isabela, Cavite and Negros.


  • February 1, 2019 - Tubig Pilipinas Bags P600M Nabua Water Supply Deal
    League Online News

    CAMARINES SUR - Tubig Pilipinas Group Inc. (TPGI) has been issued a Notice of Award on the P600 million joint venture project by the Nabua Water District (NAWAD) on January 30, 2019 for the overall design, construction, and management of the water supply and septage system of Nabua Water District in the Municipality of Nabua, Camarines Sur.

    Tubig Pilipinas will be in charge of the water supply and septage systems of NAWAD for thirty years until the year 2049, and is renewable for another twenty years.

    “We look forward to our partnership with Tubig Pilipinas. They have been serving sustainable waterworks systems all over the country and have proven to be capable of providing potable, safe and reliable water,” said Jayson Santiago Hernandez, Chairperson of Nabua Water District Joint Venture Selection Committee.

    Tubig Pilipinas is one of the fastest growing bulk water suppliers, water distribution systems and wastewater management companies in the country today.

    “We are beginning to build our footprint in Visayas, as this is our 4th project here. We have a bulk water project currently supplying Bacolod City and expanding to phase 2. Our operations in Cadiz City are set to supply 4,000 households which is home to 20,000 people, and another is the Calbayog City concession that we recently closed in December. Our joint venture with NAWAD will be a step closer to our goal of providing more efficient and cost effective water supply systems in the Philippines, especially to the underserved areas,” said Ryan Yapkianwee, President and CEO of TPGI.

    Nabua is a first class municipality in the province of Camarines Sur that has three existing potable water supply systems: NAWAD, Duran Water System and Sagumay Water System.

    As of June 2017, NAWAD supplies water to 39 barangays of Nabua. It currently draws 60,000 cu. m from Santiago Old Pumping Station and 45,000 cu.m from Baao Water District and Iriga City Water District respectively.

    TubigPilipinas Group, Inc. is engaged with the business of supplying, distributing, operating and managing water systems. The company currently is operating in major cities and towns in Pangasinan, Isabela, Cavite, and Negros.


  • February 1, 2019 - Pure Energy Holdings Corp. bags P600-million water supply deal
    The Philippine Star

    MANILA, Philippines — The water unit of Pure Energy Holdings Corp. has bagged the P600-million Nabua water supply deal in Camarines Sur, growing its footprint beyond the Visayas region.

    Pure Energy said its subsidiary Tubig Pilipinas Group Inc. (TPGI) has been issued a notice of award on the P600-million joint venture project by the Nabua Water District (NAWAD) in the municipality of Nabua, Camarines Sur.

    This covers the overall design, construction, and management of the water supply and septage system of NAWAD.

    Under the deal, TPGI will be in charge of the water supply and septage systems of NAWAD for 30 years until the year 2049, and is renewable for another 20 years.

    Nabua is a first class municipality in the province of Camarines Sur that has three existing potable water supply systems: NAWAD, Duran Water System and Sagumay Water System.

    As of June 2017, NAWAD supplies water to 39 barangays of Nabua. It currently draws 60,000 cu. m from Santiago Old Pumping Station and 45,000 cu.m from Baao Water District and Iriga City Water District, respectively.

    This is the company’s fourth bulk water project to-date, three of which are located in the Visayas region.

    “We are beginning to build our footprint as this is our fourth project,” TPGI president and CEO Ryan Yapkianwee said.

    “Our joint venture with NAWAD will be a step closer to our goal of providing more efficient and cost effective water supply systems in the Philippines, especially to the underserved areas,” he added.

    TPGI has operations in Cadiz City which is set to supply 4,000 households and another in the Calbayog City with the concession closed in December.

    “We look forward to closing more long term contracts in the near future, that may include some areas in Mindanao and Northern Luzon,” Yapkianwee said.

    TPGI is engaged in the business of supplying, distributing, operating and managing water systems.

    With its affiliate Princess Urduja Waterworks System Inc., it is operating in major cities and towns in Pangasinan, Isabela, Cavite, and Negros.

    Pure Energy Holdings Corp. is an investment holding company that aims to strategically acquire assets, develop natural resources that are sustainable.

    It is currently engaged in renewable energy and bulk water services and or distribution to various cities, municipalities, and communities in the Philippines.


  • December 28, 2018 - MWC forms P1.2-B JV for Calbayog water supply
    Manila Bulletin

    Ayala-led Manila Water Company, Inc. is now forming a joint venture (JV) company in Western Samar after being awarded the contract to provide water and wastewater services in Calbayog City.

    MWC logo (Photo courtesy of www.manilawater.com/)

    Calbayog City serves as the commercial and industrial center of the province of Western Samar. It has a total estimated population of 194,000.

    Manila Water said in a statement that it had already received the Notice of Award from the Calbayog City Water District (CCWD) for the implementation of an integrated water supply and sanitation project, to be carried out under a joint venture framework.

    The contract covers the design, construction, rehabilitation, operation, maintenance, financing, expansion, and management of water and wastewater systems in the city of Calbayog, as well as other areas which may eventually form part of the service coverage of CCWD in the Province of Samar.

    Manila Water now intends to form a Special Purpose Vehicle (SPV) with its local partner, Tubig Pilipinas Group, Inc., to implement the project with an estimated capital expenditure of P1.2 billion under a contractual joint venture with CCWD.

    As of 2017, CCWD has 13,097 water service connections, with a service coverage of only 32 percent and an effective water tariff of P39.4 per cubic meter. The project has a potential billed volume of about 30 million liters per day.

    The joint venture agreement will grant the SPV the exclusive right to manage, operate, maintain, repair, refurbish and improve, expand and as appropriate, decommission, the facilities of CCWD.

    The SPV shall also be given the right to bill and collect tariff for the provision of water supply and sanitation services in the service area.


  • December 26, 2018 - Manila Water wins deal to run San Jose water supply

    The consortium of Manila Water Company Inc., its wholly-owned unit Manila Water Philippine Ventures Inc. and Tubig Pilipinas Group Inc. on Wednesday said it received the notice of award to manage the water supply of the San Jose City Water District–Nueva Ecija.

    The award involves the implementation of the joint venture project for the design, construction, improvement, upgrade, rehabilitation, maintenance, operation, financing, expansion and management of the water supply system and the provision of water and sanitation services of the SJCWD in the city of San Jose, Nueva Ecija province.

    “Upon completion of the conditions precedent specified in the notice, the consortium and the SJCWD shall enter into a joint venture agreement that will grant the consortium... the sole right to develop, manage, operate, maintain, repair... and improve the facilities in the service area...,” Manila Water disclosed to the Philippine Stock Exchange Wednesday.

    The project has an estimated capital expenditure program of over P1.399 billion over the 25-year contract period. It is estimated to have a billed volume of about 21 million liters per day by the 25th year.

    Manila Water has been actively pursuing projects this year. It received notice of awards for a various project around the country in the last quarter.

    The company through a joint venture also won a contract for the rehabilitation, expansion, and management of the water supply system of Lambunao Water District in Lambunao, Iloilo.

    The joint venture activity will be undertaken by Aqua Centro MWPV Corp., a wholly-owned subsidiary of Manila Water through Manila Water Philippine Ventures Inc. MWPV is a wholly-owned subsidiary of Manila Water.

    Manila Water won the concession from the Calinog Water District, also in Iloilo. Aqua Centro will undertake the water project.

    MWPV earlier signed and executed a joint venture agreement with Tubig Pilipinas.

    Under the deal, MWPV and Tubig Pilipinas will incorporate a joint venture to operate and manage the water supply facilities in the municipality of Malasiqui, Pangasinan.


  • December 26, 2018 - Manila Water consortium gets P1.40-B contract to service San Jose, Nueva Ecija

    A consortium of Ayala-led Manila Water Co. Inc. has secured the contract to service the water supply needs of San Jose in Nueva Ecija.

    Manila Water, wholly-owned subsidiary Manila Water Philippine Ventures Inc., and Tubig Pilipinas Group Inc. received a notice of award from the San Jose City Water District – Nueva Ecija (SJCWD), the company said in a regulatory filing submitted by compliance officer Darwin Mendoza.

    The project covers the implementation of design, construction, improvement, upgrade, rehabilitation, maintenance, operation, financing, expansion, and management of the water supply system of San Jose City. It also calls for providing water and sanitation services of the water district.

    The project has an estimated capital expenditure program of over P1.399 billion over the 25-year contract period and is estimated to have a billed volume of about 21 million liters per day by year 25.

    The consortium and the water district are signing a joint venture deal that will give the Manila Water group, as contractor, “the sole right to develop, manage, operate, maintain, repair, refurbish and improve, expand and as appropriate, decommission, the facilities in the service area, including the right to bill and collect tariff for water and sanitation services supplied in the service area of SJCWD.”

    Manila Water holds the concession rights to the east zone of Metro Manila and Rizal province. These include Mandaluyong, Makati, Pasig, Pateros, San Juan, Taguig, Marikina, and parts of Quezon City and Manila. The towns of Angono, Baras, Binangonan, Cainta, Cardona, Jalajala, Morong, Pililia, Rodriguez, Tanay, Taytay, Teresa, San Mateo and Antipolo in the province of Rizal are also part of the East Zone concession.


  • November 18, 2018 - Manila Water ties up with Tubig Pilipinas
    The Manila Times


    MANILA Water Co. Inc., through Manila Water Philippine Ventures Inc. (MWPV), its subsidiary for wastewater processing and maintenance services, signed a joint venture agreement with Tubig Pilipinas Group Inc. (TPGI) to undertake water supply projects in Pangasinan. The accord entails to “establish, construct, operate, manage, repair and maintain the water supply systems and facilities” in the municipality of Malasiqui for 25 years. TGPI has been in the pipe manufacturing industry for 50 years and holds more than 30 years of experience in bulk water supply, water distribution system and wastewater management. Last month, MWPV bagged a P742-million contract to build water supply and sanitation services in San Fabian, Pangasinan. Under the 25-year franchise, the project, with estimated capital expenditure of P742 million, is expected to be operational by 2019. In June last year, Manila Water also signed a 25-year joint venture agreement with Calasiao Water District to construct and operate water supply system in the area. Calasiao Water is a joint venture between Manila Water and CWD which started servicing four villages — Ambuetel, Nagsaing, Lumbang and Doyong — in March this year.


  • October 1, 2018 - BusinessWorld Live Interview with Mr. Gary Espino

    * Video courtesy of ONE News (BusinessWorld Live)

    Full Video at https://www.facebook.com/ONENewsPH/videos/289684051634973/



  • June 7, 2018 - Renewable energy developers urged to consider ‘green’ bonds
    Business Online
    “GREEN” bonds are said to be the next frontier for renewable energy in the country.


    PURE ENERGY Holdings Corp. said renewable energy (RE) developers along with banks and investment firms should look at issuing ”green” bonds to finance their projects amid growing demand for renewables in the Philippines.

    “We are closely monitoring the potential of green bonds in financing renewable energy projects in the country. Renewable energy is a sound and sustainable alternative energy source especially with the rise of oil prices due to geopolitical tensions and a weaker peso,” said Dexter Y. Tiu, chief executive officer of Pure Energy, in a statement.

    Pure Energy said the issuance of green bonds would bolster private sector funding of local renewable energy projects. He noted demand for these securities should rise once the Securities and Exchange Commission issues guidelines for their issuance.

    The investment holding company said green bonds posted strong growth in the international market last year with an issuance record of $157 billion. These bonds are an investment opportunity for the Philippines despite cost and demand issues that some investors are unwilling to take, it added.

    “Investors should look past numbers and examine closely their investments. Investing in green bonds is not just profitable but proves to be a great investment in the long-run as it helps reduce greenhouse gas emissions through supporting RE projects. While green bonds are still at its early stage in the country, I am optimistic that local investors will see it as a growing asset and tap this potential investment,” Mr. Tiu said.

    He called green bonds as the next frontier for renewable energy in the country, but admitted that the sector has a long way to go to convince investors and the public to shift to sustainable energy.

    “The continuous decline of RE prices enables the RE sector to gain more traction but shifting to sustainable energy remains to be a challenge that we are proud to advocate for. We continue to be positive that issuance of green bonds will become the future of renewable energy financing in the Philippines marked by a stable bond market,” Mr. Tiu said.

    Pure Energy said it was looking to acquire assets and “develop natural resources that are sustainable, and be a basic provider for the needs of the community.”

    Aside from renewable energy, the company is into bulk water services and distribution to various cities, municipalities and communities. — Victor V. Saulon


  • June 6, 2018 - Green bonds can help fund renewable-energy projects in PHL
    Business Mirror

    An energy company executive said the government’s move to issue guidelines for the so-called green bonds could help fund renewable-energy (RE) projects in the country.

    Dexter Tiu, CEO of Pure Energy Holdings Corp., said demand for the green bonds might rise once the Securities and Exchange Commission (SEC) sets out the guidelines for its issuance.

    “We are closely monitoring the potential of green bonds in financing renewable-energy projects in the country. Renewable energy is a sound and sustainable alternative energy source, especially with the rise of oil prices due to geopolitical tensions and a weaker peso,” Tiu said.

    “Investors should look past numbers and examine closely their investments. Investing in green bonds is not just profitable, but proves to be a great investment in the long-run as it helps reduce greenhouse-gas emissions through supporting RE projects. While green bonds are still at its early stage in the country, I am optimistic that local investors will see it as a growing asset and tap this potential investment,” Tiu said.

    Tiu said the growing demand for RE projects in the local market is good for banks, investment companies and industry players to consider the green-bond market as the next frontier for RE in the country.

    The sector has a long way to go to convince investors and the general public alike to shift to sustainable energy, he said.

    “The continuous decline of RE prices enables the RE sector to gain more traction. Shifting to sustainable energy remains to be a challenge that we are proud to advocate for. We continue to be positive that issuance of green bonds will become the future of RE financing in the Philippines marked by a stable bond market,” Tiu said.

    Tiu is leading an investment holding company that aims to acquire assets and is currently engaged in RE and bulk-water services and or distribution to various cities, municipalities and communities in the Philippines.

    At the moment, the guidelines for the issuance of the Asean Green Bonds is still with the SEC.

    According to the guidelines, a green bond can be considered as such if its proceeds will be used to finance new or existing green projects, which should comply with the standards set by a body. RE only falls in one of the categories of a green project, which may involve developments such has pollution prevention and control, biodiversity conservation, climate- change adoption, or green buildings that meet certain recognized standards or certification.

    “All designated green projects must provide clear environmental benefits, which will be assessed and, where feasible, quantified by issuer,” Section 7 of the SEC’s Asean Green Bond guidelines states.


  • April 20, 2018 - Pure Energy optimistic in renewable energy in the Philippines
    Ronda Balita

    PURE Energy Holdings Corporation (PEHC) is confident in promoting renewable energy as an alternative source of electricity in response to the growing worldwide concern about climate change and its causes.

    Under the Renewable Portfolio Standards (RPS), the Department of Energy (DoE) targeted 15,304 megawatts of renewable energy capacity into the Philippines’ power system until 2030. The RPS aims to restore the share of renewable energy to the country’s energy mix.

    “Climate change is a reality requiring cooperation from the energy sector to tap alternative sources of electricity,” says Dexter Y. Tiu, CEO of Pure Energy Holdings Corporation. “These energy sources must be sustainable for its benefits to be felt by the next generation,” he added.

    Despite coal being the dominant energy source in the country as of the end of 2017, it is closely succeeded by renewable energy sources, with a share of 35.4% and 31.10% respectively in the total installed capacity of 22,728 MW. Tiu believes bigger investments in RE will yield good results in the long-run through the gradual reduction of the local carbon footprint

    “The Paris climate accord is now two-years-old and the agreement emphasizes the need for sustainable development which can be made possible by investing in renewable energy. We see many opportunities for renewable energy in the Philippines due to an abundance of natural resources.”Tiu said.

    PEHC is committed to providing clean, sustainable and low-impact renewable energy. Through its subsidiaries, Pure Energy is involved in hydropower, geothermal, and solar energy.

    Repower Energy Development Corporation (REDC) utilizes run-of-river hydropower plants instead of the traditional large hydropower and pump storage plants. The run-of-river (ROR) hydropower plants require less water storage since it utilizes river flows to produce electricity in communities. The company has 3 operating hydropower plants and another 5 hydropower plants are under construction. The 5 plants are targeted to be completed between 2018-2020. It has a portfolio of over 500 MW in development.

    Pure Geothermal Inc. (PGI) develops and operates brownfield geothermal energy projects to cater to the nation’s increasing demand for electrical power. Its geothermal project is south of the renowned Tongonan geothermal field, and the area has previously been drilled and flowed steam. Plans are underway to put up modular geothermal power units to harness the first phase 25 MW capacity, with a view of utilizing the full 110 MW geothermal resource in the area.

    Recently, Just Solar Corporation acquired majority stakes in three solar farms in Central Luzon with a combined capacity of 13.86MW and plans are underway to increase its capacity to electrify local communities in the region. Development activities are also in full swing to secure and electrify underserved areas held by some Electric Cooperatives.

    “In line with our commitment to provide clean, sustainable and low-cost renewable energy, we continue to expand our reach and encourage the usage of renewable energy,” Tiu added.

    Pure Energy Holdings Corporation (PEHC) is an investment holding company aiming to strategically acquire assets, develop natural resources that are sustainable, and be a basic provider for the needs of the community. It is currently engaged in renewable energy and bulk water services and or distribution to various Cities, Municipalities, and communities in the Philippines. (RONDA Balita Online News)


  • March 28, 2018 - Lone bidder qualifies for P84-million Baggao Water Supply Project
    Rappler

    MANILA, Philippines – A lone bidder was declared qualified to participate in the auction for the P84-million water supply project of the municipal government of Baggao in Cagayan province.

    The Public-Private Partnership (PPP) Center on Wednesday, March 28, said in a statement that the Baggao municipal government issued a notice of qualification to bid to the Tubig Pilipinas Consortium.

    The Tubig Pilipinas Consortium is composed of Tubig Pilipinas Group Incorporated (lead member), Hanabana Construction and Equipment Corporation, and TGV Builders Incorporated.

    Through its Pre-Qualification Bids and Awards Committee (PBAC), the Baggao municipal government released the notice to the lone bidder of its water PPP project on Wednesday.

    The project seeks to provide level 3 water supply to 24 barangays in Baggao, with a 25-year concession period.

    A level 3 water supply facility is generally suited for densely populated urban areas, according to the Philippine Statistics Authority (PSA).

    "It is a water supply facility with a source, a reservoir, a piped distribution network, with adequate treatment facility, and household taps," said the PSA.

    The Baggao project includes the construction of water supply facilities, including a bulk water source, storage facilities, and transmission and distribution pipes.

    The PBAC, led by chairman Jenison Herrera, notified Tubig Pilipinas that it satisfied the requirements for pre-qualification specified to prospective bidders.

    Should the municipal government award the deal to Tubig Pilipinas, the consortium would install, operate, and maintain all required equipment and facilities for 25 years.

    The instructions and related bid documents are expected to be released on April 20 to the lone bidder.

    It was on March 6 when the Baggao municipal government conducted the pre-qualification submission for the water supply PPP deal.

    The invitation to pre-qualify and bid had been made on December 22, 2017.

    The PPP Center has been providing technical assistance to the Baggao municipal government since the start of the water project development.

    Amid the shift in funding of major infrastructure projects to official development assistance and local financing, the PPP Center has been rebuilding its pipeline and focusing instead on helping local government units. – Rappler.com


  • March 10, 2018 - P84-M Cagayan water project attracts lone bidder
    The Philippine Star

    The P84-million Baggao municipal water project in Cagayan, assisted for procurement by the Public-Private Partnership (PPP) Center, has attracted a consortium of municipal water service providers as its only prospective bidder, the agency said.

    Representatives from the provincial government of Cagayan and PPP received the prequalification documents submitted by Tubig Pilipinas Group Inc. on March 6 at the municipal hall of Baggao.

    The water project involves the provision of potable piped water supply service to households in the municipality. It would be inclusive of the development of a water supply source, as well as a transmission and distribution mechanism. The new water system is expected to serve 24 barangays initially. This comprises 21,160 persons out of the total municipal population of 78,200.

    The winning bidder would finance, design and construct the water supply facilities, including bulk water source, storage facilities and transmission and distribution lines. The private firm would also operate and maintain the facilities over a 25-year concession period.

    It would be structured as a designbuild-operate-and-transfer project and would undergo a competitive two-state public bidding process under the BOT Law.

    The project initially drew the interest of two other water companies during the prequalification conference in January – Eco-System Technologies, and Northking Construction.

    On its website,Tubig Pilipinas Group. Inc. is identified as a consortium of Princess Urduja Waterworks System Inc., Quadcore Construction and Development Corp., Repower Energy Development Corp. and Coal Asia Holdings Inc.

    The company said the group is expanding operations in underserved areas beyond the expansion reach of Metro Manila-based water conglomerates.

    It has bulk water projects in Bacolod City; Echague, Isabela; Cadiz City, Negros Occidental; Trece Martires, General Trias, and Tanza in Cavite province; and Sual and Calasiao in Pangasinan.

    Since 2015, the PPP Center has been providing the local government of Baggao, a first class municipality in Cagayan, with technical assistance in preparation for the project tender.

    It has also been assisted by the Water and Sanitation Program of the World Bank.

    In the second half of 2017, the PPP Center announced it would be more aggressive in facilitating the use of the PPP mode of procurement for LGUs as the national government leans toward the use of official development assistance (ODA) and own funds for big-ticket infrastructure projects.

    Since the rollout of the center’s LGU strategy last year, local governments have put forward several proposals for PPP projects, many of which still fall under the traditional projects like the modernization of public markets and other municipal infrastructure.

    The center, however, has said that it would select projects that provide vital services (like water) and would ensure these have sufficient scale to make it attractive for investors.


  • February 28, 2018 - Bacolod Bulk Water Inc. Supports Negrense Youth
    Negros Daily Bulletin

    Bacolod Bulk Water Inc. (BBWI) continues to actively support activities involving the Bacolod youth.




    Just this month, BBWI has been one of the sponsors of the Rotary Club of Bacolod South’s 43rd annual Academic Excellence contest. The contest is one of the biggest academic events in Negros Occidental with over 800 students from 80 schools participating. The said competition aims to encourage critical thinking and analysis while celebrating outstanding achievements of Negrense students in the region.

    “As part of the Bacolod community, BBWI supports initiatives serving to promote excellence among the youth in the city. We are proud to partner again with the Rotary Club of Bacolod South for this event,” says BBWI chairman, Ryan Yapkianwee. This is the second year that BBWI has sponsored RCBS’ Academic Excellence Contest.

    Rotary Club of Bacolod South president Elena Gatanela expressed her gratitude to Bacolod Bulk Water Inc. for their support to the organization. “We appreciate BBWI for being one of our generous sponsors in the academic excellence competition for the second year,” Gatanela said.

    BBWI also recently helped the Municipality of Murcia send more than 400 students from select schools to participate in the Kasadyahan Festival last January in Iloilo.

    “We want to continue to be an active partner of Bacolod in improving lives and showcasing what the province offers. BBWI is committed to serve Bacolod and further tighten its ties with the local community,” Yapkianwee added.

    Since beginning their work in Bacolod in 2016, the bulk water supplier has taken part in various social activities, such as providing compact water filters to residents in Murcia Municipality and organizing medical missions in the city.

    Bacolod Bulk Water has been supplying 15,000 cubic meters to BACIWA from the Ngalan Water Treatment Plant, since its inauguration last October 2017. The second injection plant at the Municipality of Murcia is expected to be operational within the year.


  • January 20, 2018 - BBWI open to expanding throughout Negros Occidental
    Watchmen Daily Journal

    During a meeting yesterday, Bacolod Bulk Water, Inc. (BBWI) Chairman Ryan Yapkianwee said his company is looking to expand their delivery services throughout Negros Occidental, however, he noted they do not yet have any formal arrangements with other local government units outside of Bacolod City.

    “We are open to expansion, but our commitment is to fix the water supply of Bacolod,” he said.

    Yapkianwee pointed out, with their bulk water supply facility located in Murcia, they could make an offer to the municipality.

    “We just offered, but we will not distribute to houses [directly] in the future,” he said.

    The BBWI chair added, a small pumping area could be set up, where residents can extract water themselves.

    “It’s not really delivering to the houses, but it’s still better than no water,” Yapkianwee emphasized./DGB, WDJ


    BBWI Chairman Ryan Yapkianwee said his company is looking to expand their delivery services throughout Negros Occidental. (Dominique Gabriel G. Bañaga photo)

  • January 20, 2018 - BBWI assures Bacolod of water supply amid major developments
    SunStar Bacolod

    THE Bacolod Bulk Water Inc. (BBWI) is capable of supplying the huge water requirement amid the ongoing major developments in the city, its top official said.

    BBWI chairman Ryan Yapkianwee, in a press briefing on Thursday, said with more businesses and investors coming in, especially in the real estate industry, water demand would surely increase.

    Although BBWI’s current contract with Bacolod City Water District (Baciwa) requires them to supply 15,000 cubic meters per day, Yapkianwee said they are actually capable of supplying 22,000 cubic meters.

    “BBWI is capable enough to supply water, however, we are challenged by certain limitations especially on some issues with Baciwa,” he said, adding that “we can guarantee providing the water supply, but for it to get into the establishments, is a different story.”

    The bulk water supplier is still awaiting the payment of Baciwa for its two-month billing after they started delivering water to Injection Point 1 in Barangay Granada in October last year.

    Aside from Ayala Land Inc., big real estate industry players like Megaworld Corp. is also starting its development in the city.

    Other major players expanding their developments in the province include SM Prime Holdings Inc., Double Dragon Properties Corp., and Robinsons Land Corp.

    Amid these growing developments, Yapkianwee said they are more than prepared.

    Although they are open to providing water supply to other localities, BBWI's priority for now is completing the bulk water project in Bacolod City.

    “No talks for bulk water projects in other cities and towns in the province yet. Our first commitment is to fix the water supply in Bacolod," he said.

    They can eventually engage in secondary projects after completing the bulk water supply in Bacolod, Yapkianwee added.


  • January 19, 2018 - Bulk Water Firm Renews Vow to Solve Bacolod Water Woes
    Negros Daily Bulletin

    The Bacolod Bulk Water Inc. (BBWI) reiterated its commitment as a partner of Bacolod City to help solve its lingering issues on water shortage.


    BULK WATER. Chairman Ryan Yapkianwee of Bacolod Bulk Water Inc. with Conrad Belisario, Chief Technical Officer and Mark Roxas, Chief Operations Officer discuss the Bacolod Bulk Water Supply project and reiterates commitment in solving Bacolod’s water woes and clarify other issues and concerns at the media briefing and orientation at Satin Room 2, Seda Capital Central Hotel yesterday.*(Jun de los Reyes/NDB photo)

    In a media briefing, BBWI Chairman Ryan Yapkianwee presented the achievements of the bulk water project in 2017. Yapkianwee is optimistic that the bulk water project will reach out to more households in Bacolod this 2018 with BBWI already in operation.

    “We intend to keep our momentum going. True to our commitment to the people of Bacolod, BBWI will continue to be a part of the solution in solving the water woes of the city. Now that BBWI is in steady operation, the next step is to move forward by expanding our services to more households,” Yapkianwee said.

    Yapkianwee also discussed the construction of the second injection point in Murcia which is expected to increase the water volume delivered to BACIWA. This milestone shall set BBWI as fully operational. “We are bullish for BBWI this year; with the Murcia injection point expected to be active in a few months, potable water is now made more accessible to Bacolod City. BBWI, in partnership with BACIWA and the support of the local government of Bacolod, is fully committed to help find a permanent solution to the water problem in the city,” Yapkianwee concluded.

    The BBWI is a subsidiary of Tubig Pilipinas Group Inc. inaugurated last October which supplies potable water to Bacolod City,” a press release said.*


  • January 19, 2018 - Pure Energy takes stake in 13.8 MW of PV parks in Philippines
    Renewables Now

    January 19 (Renewables Now) - Philippine-based Pure Energy Holdings Corp has purchased 60% stakes in three solar parks in the country with a combined capacity exceeding 13.8 MW.

    The acquisition was carried out through subsidiary Just Solar Corp, allowing Pure Energy to diversify into the solar sector, the company said on Monday. The remaining 40% are owned by Solar Powered Agri-Rural Communities Corp (SPARC), from which Pure Energy bought the majority stakes.

    The Palauig, Morong and San Rafael photovoltaic (PV) facilities are situated in the Central Luzon region. The first two have capacities of over 5 MW, while the San Rafael plant’s capacity is 3.82 MW.

    The deal is seen to help Pure Energy expand its renewable energy portfolio, which consists of hydropower and geothermal plants, CEO Dexter Tiu said. “We are optimistic because these power plants have huge economic potential in Central Luzon, and plans are under way to expand their respective capacities,” the CEO added.

    The Philippine investment holding company focuses on acquiring and developing assets that are sustainable, it says on its website.


  • January 16, 2018 - Pure Energy unit buys majority stake in 3 solar farms
    The Manila Times

    A unit of Pure Energy Holdings Corp. has acquired a majority stake in three solar farms in Central Luzon, enabling the company to diversify into solar energy and ramp up its portfolio.

    Pure Energy said on Monday that its subsidiary, Just Solar Corp., signed a share purchase agreement with Solar Powered Agri-Rural Communities Corp. (SPARC) for the acquisition of initially 60 percent ownership in three solar plants in Luzon.

    The three solar farms are the Palauig solar farm in Zambales, the Morong solar farm in Bataan, and the San Rafael solar farm in Bulacan.

    Both the Palauig solar farm in Barangay Salaza and the Morong solar farm in Barangay Sabang have a generation capacity of more than 5 megawatts each, while the San Rafael solar farm in Barangay Pasong Inchik has a 3.82-MW capacity.

    The three solar plants were approved for commercialization by the Department of Energy (DoE) to provide electricity in their respective areas.

    Zambales Electric Cooperative (ZAMECO), Peninsula Electric Cooperative (PENELCO), and Manila Electric Co. (Meralco) manage the distribution utilities of each facility.

    "This acquisition complements our existing renewable energy portfolio of hydropower plants and geothermal assets. We are optimistic because these power plants have huge economic potential in Central Luzon, and plans are under way to expand their respective capacities," Pure Energy Chief Executive Officer Dexter Tiu said.

    Pure Energy is an investment holding company whose purpose is to strategically acquire assets, develop natural resources that are sustainable, and be a basic service provider for the needs of the community.

    In May last year, Pure Meridian Hydropower Corp. (PMHC), a joint venture of Meralco with PEHC subsidiary Repower Energy Development Corp. (REDC), inaugurated its 3-MW run-of-river mini hydropower plant in Lalawinan, Quezon Province.


  • January 16, 2018 - Pure Energy says subsidiary buys majority interest in solar farm owner
    Pure Energy says subsidiary buys majority interest in solar farm owner

    PURE ENERGY Holdings Corp. has diversified its renewable energy capacity as its subsidiary acquired a majority stake in a company that owns three solar farms in Central Luzon.

    "This acquisition complements our existing renewable energy portfolio of hydropower plants and geothermal assets. We are optimistic because these power plants have huge economic potential in Central Luzon, and plans are under way to expand their respective capacities," said Dexter Y. Tiu, chief executive officer of Pure Energy, in a statement.

    Pure Energy said its unit Just Solar Corp. had acquired "initially" a 60% ownership stake in Solar Powered Agri-Rural Communities Corp. (SPARC), which owns solar farms in Palauig, Zambales; Morong, Bataan; and San Rafael, Bulacan.

    The three solar energy projects have been approved last year for commercial operation by the Department of Energy, allowing them to provide electricity in their respective areas.

    Pure Energy said the acquisition of the solar farms, which have a total capacity of 13.86 megawatts (MW), provides a platform for the company to diversify into solar energy while expanding its portfolio through the acquired company.

    The Palauig solar farm in Barangay Salaza has a capacity of at least 5 MW, which it supplies to Zambales Electric Cooperative. The plant in Barangay Sabang in Morong, which also has over 5 MW capacity, serves the Peninsula Electric Cooperative. The San Rafael plant in Barangay Pasong Intsik has a 3.82 MW capacity and serves Manila Electric Co.

    The holding firm’s other renewable energy subsidiaries include, Repower Energy Development Corp., which has a portfolio of operating run-of-river hydropower plants, and Pure Geothermal, Inc., which holds geothermal assets.


  • January 15, 2018 - Pure Energy buys 3 solar farms
    Manila Standard

    Pure Energy Holdings Corp. through unit Just Solar Corp. acquired majority stakes in three solar farms in Central Luzon with a combined capacity of 13.86 megawatts.

    Pure Energy said in a statement it signed an agreement to initially buy 60 percent of Solar Powered Agri-Rural Communities Corp., owner of the three solar projects.

    The three solar farms are Palauig in Zambales, Morong in Bataan and San Rafael in Bulacan.

    The Palauig solar farm in Barangay Salaza has over 5 MW in capacity. It was included in the projects eligible for the solar feed-in tariff of P8.69 per kilowatt-hour under the second wave of installation target of the energy Department.

    The Morong solar farm in Barangay Sabang also has over 5 MW in capacity, while the San Rafael solar farm in Barangay Pasong Inchik has a 3.82-MW output.

    "This acquisition complements our existing renewable energy portfolio of hydropower plants and geothermal assets. We are optimistic because these power plants have huge economic potential in Central Luzon, and plans are underway to expand their respective capacities. We are excited to begin working and delivering electricity through renewable energy sources in this region," said Pure Energy chief executive officer Dexter Tiu.


  • October 13, 2017 - BBWI Inaugurates Its Bulk Water Treatment Facility in Bacolod
    Pure Energy Holdings Negros Daily Bulletin

    The Bacolod Bulk Water, Inc. (BBWI) is now waiting for the go signal of the Bacolod City Water District (BACIWA) to commence supplying the water district with an initial 15,000 cubic meters of treated water from its Injection Point 1 along Abada-Escay Road at Bangga Bagol in Barangay Granada, Bacolod.

    Ryan Wesley T. Yapkianwee, BBWI chairman also told newsmen minutes before the water treatment facility inauguration rites yesterday afternoon, the issue on injecting the bulk water supply to BACIWA’s reservoir now rests on the BACIWA board and management, saying BBWI was able to comply with its Injection 1 target date to be ready by yesterday, October 12.

    Yesterday’s inauguration was also attended by the BACIWA Board of Directors led its chairman Atty. Lorendo Dilag, BACIWA General Manager Atty. Julie Ann Carbon, Bacolod City government and barangay Grandana officials, and stakeholders.

    THE PROJECT.

    The BACIWA bulk water supply project was bidded out last July 2015 by way of competitive bidding under RA9184. The consortium of Tubig Pilipinas Group, Inc., Mactan Rock Industries Inc. and TGV Builders inc. were declared the sole pre-qualified bidders, which submitted the best bid price. In September, 2015 the notice of award was issued, and in March 22, 2016, the Bulk Water Supply Contract was signed. In May, 2016 the 1V Company of Tubig Pilipinas, Mactan Rock and TGV Builders, formed and incorporated, Bacolod Bulk Water Inc (BBWI).

    The project involves the supply of potable water to the Bacolod City Water District (BACIWA). BBWI will be supplying an initial 15,000 cubic meters per day per injection point, increasing to a total of 75,00 cubic meters per day, at a price of P8.85/ cubic meter.

    A groundbreaking ceremony was done on December 2016 in the Granada WTP, where the Ngalan river is located. Ngalan river will be the first source of Injection point 1, providing the initial 15,000 cubic meters up to 22,500 cubic meters. Construction began on December 2016 and was completed in under 11 months, making it one of if not the fastest constructed bulk water supply project in the country.

    The water treatment plant has 3 flocculation tanks, 3 lamella plate clarifiers, and 7 multimedia filters. From the Ngalan river, an intake weir will collect water through one of two (2) intake pumps which will then pump water into the water treatment plant. After treatment, water will be directed to the pipe/reservoir of Bacolod City Water District and then distributed to Bacolod City. While only 1 pump, 2 clarifiers and 6 multimedia filters are enough to provide 15,000cm3/day, BBWI has installed 50% more of the necessary capacity to act as redundancies to ensure continuous 24 hour water supply.

    The initial 15,000 cubic meter supply of potable water to the Granada Injection point of BACIWA will drastically improve BACIWA’s current water supply. It is expected to greatly increase water pressure and water availability, increasing available water by as much as 20 hours per day in some areas of Bacolod City.

    Future installments are expected to allow BACIWA to expand into previously unserviceable and waterless homes and areas of Bacolod.*(NDB)


  • May 18, 2017 - Meralco JV river hydro project breaks ground in Quezon
    Business World Online

    MANILA ELECTRIC Co. (Meralco) said its joint venture company Pure Meridian Hydropower Corp. had broken ground in Lalawinan, Quezon province for a 3-megawatt (MW) run-of-river mini-hydropower plant.

    The Lalawinan plant is the second project under the joint venture (JV), which is a partnership between Meralco and Repower Energy Development Corp., a unit of Pure Energy Holdings Corp.

    In a statement, Pure Energy quoted Pure Meridian Chairman Alfredo S. Panlilio as saying: “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.”

    The first project, the Pulanai, Bukidnon mini-hydro project, had its groundbreaking in December 2016. The Lalawinan plant is Meralco’s first foray in run-of-river hydropower in Luzon.

    “It is our hope that these various initiatives will contribute in providing a stable, clean and reliable energy source,” said Mr. Panlilio, who is also Meralco senior vice-president.

    The Lalawinan project is expected to cost P700 million and generate more than 200 jobs during construction, mostly hired from the local community. It will connect to the transmission infrastructure of Repower’s Upper Labayat 3-MW mini-hydro power project through a 10.5-kilometer 69-kilovolt (kV) line.

    The power plant will have two generating units with terminal voltage of 4.16 kV and with total output of 3 MW using a 5-megavolt ampere 4.16/69 kV step-up transformer. Its expected annual power generation will be at least 16 gigawatt-hours from the renewable energy source.

    Dexter Y. Tiu, chief executive officer of Pure Meridian and Pure Energy, said the new project supports his companies’ commitment to promote awareness, understanding and use of run-of-river hydropower as “the best renewable energy resource due to its near baseload nature.”

    “Our goal is to provide sustainable alternatives to balance the country’s over dependence on fossil fuels, while preserving our natural watersheds,” he said.

    The project aims to avail of the run-of-river hydropower feed-in-tariff (FiT) rate, which the Energy Regulatory Commission set at P5.90 for every kilowatt-hour exported to the grid. The rate has been reduced this year to P5.8705 per kWh as called for by the FiT rules. The incentive scheme ends this year. Run-of-river hydropower is the cheapest renewable energy resource being charged under FiT.

    Lalawinan is Repower’s third hydropower groundbreaking so far this year.

    Pure Energy’s hydropower arm has several operational hydropower plants in Laguna. It is aiming to break ground on two more hydropower projects this year, and 15 more in the next three years.

    “After cementing a foothold in the baseload hydropower and geothermal sphere, Pure Energy plans to venture into the intermittent solar energy for a balance portfolio of renewable energy projects,” Pure Energy said.

    Meralco is the country’s largest electric distribution company with coverage of 36 cities and 75 municipalities, including Metro Manila. It serves more than six million customers.

    Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by Philippine Long Distance Telephone Co. (PLDT). Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls.


  • May 18, 2017 - Hydropower firm starts building Quezon plant
    The Manila Times

    PURE Meridian Hydropower Corp. (PMHC) said it has broken ground on its 3-megawatt (MW) run-of-river mini 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 mini 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.


  • May 10, 2017 - Hydropower for Quezon

  • May 2, 2017 - P660-M hydro plants set to rise in Quezon

    Two subsidiaries of Pure Energy Holdings Corp., together with Giga United Power and businessman Willy Ocier, have formed a consortium to build mini-hydropower plants in the province of Quezon—a venture that is expected to cost P660 million.

    The two firms are Blue Energy Holdings and Management Corp. and Repower Energy Development Corp. (REDC), the former headed by professional basketball player Christopher Tiu.

    Construction of the facilities will begin in June 2017 in Real, Quezon. Once completed, the Lower Labayat and Upper Tignoan mini-hydropower plants will have 1.4 and 1.5 megawatts of installed capacities respectively, and will cascade through the Labayat and Tignoan rivers.

    "After years of predevelopment work, we look forward to starting the construction phase of our two mini-hydro projects in Quezon province," Tiu said. "These power plants will harness our abundant river waters to generate electricity in a clean and sustainable manner."

    "Furthermore, we expect to generate more than 400 jobs through these projects," he added.

    The two mini-hydropower plants will power around 7,000 households and will generate almost 17 gigawatt hours annually. They will deliver an average of 65 percent of plant capacity year round upon project completion.

    Set to be completed in 2019, the projects will apply for the feed-in-tariff subsidy at a rate of P5.90 a kilowatt-hour for run-offriver mini hydropower.

    The Lower Labayat project will connect to REDC’s Labayat 1 hydropower plant, sharing the same transmission lines and access roads, while the Upper Tignoan project will connect to the REDC switchyard nearby.

    Aside from the Lower Labayat and Tignoan groundbreaking, REDC will be starting work on its 3-MW Lalawinan run-of-river hydropower plant with joint venture partner Meralco, also within the month of May. REDC has been aggressive in building up a portfolio of hydropower projects in Luzon, Visayas and Mindanao.


  • May 2, 2017 - Pure Energy starts construction of Quezon mini-hydro facilities
    Pure Energy Holdings Corp. and its partners have started the construction of two mini-hydropower plants that will augment clean power supply by three megawatts in Real, Quezon.

    MANILA, Philippines - Pure Energy Holdings Corp. and its partners have started the construction of two mini-hydropower plants that will augment clean power supply by three megawatts (MW) in Real, Quezon.

    Pure Energy subsidiaries Blue Energy Holdings and Management Corp. and Repower Energy Development Corp. (REDC) have formed a consortium with Giga United Power and Willy N. Ocier for the P660-million mini-hydropower plants.

    The group started work on the access roads while full construction will start in June.

    The Lower Labayat and Upper Tignoan mini-hydropower plants will have 1.4 MW and 1.5 MW installed capacities, respectively.

    "After years of pre-development work, we look forward to starting the construction phase of our two mini-hydro projects in Quezon province. These power plants will harness our abundant river waters to generate electricity in a clean and sustainable manner," Blue Energy president and CEO Christopher Tiu said.

    "Furthermore, we expect to generate more than 400 jobs through these projects," Tiu added.

    Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The two mini-hydropower plants will power up around 7,000 households and will generate almost 17 gigawatt-hours annually.

    The plants are expected to deliver an average 65 percent plant capacity year-round upon completion.

    Once completed in 2019, the consortium will apply for the feed-in-tariff (FiT) rate of P5.90 per kilowatt-hour (kwh) for run-of-river mini-hydropower.

    The Lower Labayat project will connect to REDC’s Labayat 1 hydropower plant, sharing the same transmission lines and access roads, while the Upper Tignoan project will connect to the REDC switchyard nearby.

    After these two mini-hydropower plants, REDC will be groundbreaking its three-MW Lalawinan run-of-river hydropower plant with joint venture partner Manila Electric Co. (Meralco) within the month.

    The Lalawinan project, which is its second project with Meralco, is also located in Quezon.

    It was in December 2015 when Meralco and REDC forged a partnership to build and develop mini-hydropower plants using run-of-river resources.

    Earlier this year, Pure Energy announced it plans to conduct an initial public offering (IPO) this year, targeting to raise P1.5 billion for the development of hydropower projects.

    It is eyeing to have a 500 MW of total capacity in five years with a basket of renewable energy projects such as hydropower wind, solar and biomass investments.


  • April 17, 2017 - TransCo bags ISO mark for int'l mngm't standards

    National Transmission Corp. (TransCo), owner of the country's power transmission assets, has been certified with the new international management standards for upholding optimal grid operations and administration of incentives for renewable energy technologies.

    TransCo was formally awarded the International Organization for Standardization Certification for Quality Management System (ISO 9001:2008) after successfully passing a certification audit conducted by TUV Rheinland last Jan. 24, 2017.

    The scope of ISO certification covers TransCo's mandates of ensuring compliance of the concessionaire with the concession agreement, settlement of right of way claims, divestment of sub-transmission assets, operation and maintenance of electrical systems of contracted ecozones, administration of feed-in tariff (FIT) allowance fund and providing corporate support services.

    The state-run firm's ISOcertified quality management system "will serve to enhance our efficiency, reliability, responsiveness and transparency" as well as "improve our ability to achieve our targets," TransCo president and CEO Melvin Matibag said.

    In successfully passing the audit, TransCo registered zero non-conformity and was cited for several positive findings which reinforced its bid for the award.

    Among others, TUV Rheinland commended TransCo's "comprehensive monitoring of customer complaints prior to close out" and the "completeness of records of monitoring and reports" of right-of-way management and the "use of graphical presentation to analyze the results of evaluation of training effectiveness."

    Matibag urged employees to maintain the high level of service required by ISO certification. "Any quality initiative will not be realized without top management support," TUV managing director Tristan Arwen Loveres said.


  • April 17, 2017 - Senator wants hydro complexes state-owned, professionally run

    THE Senate energy committee prefers keeping the Agus-Pulangi hydroelectric power facilities in Mindanao in government hands, but with professional management from the private sector installed.

    "If ever, the Senate will keep Agus-Pulangi in the portfolio of government gencos (power generation companies)," said Sherwin T. Gatchalian, chairman of the Senate committee on energy in a recent interview.

    The Agus hydro power asset has an installed capacity of at least 700 megawatts (MW). The biggest plant in the complex is the 200-MW Agus VI in Iligan City, which has five operating units, two of which have a capacity of 25 MW each and the rest with 50 MW each.

    The Pulangi hydroelectric power plant in Maramag, Bukidnon has three units, each with an installed capacity of 85 MW. The power generation facilities are considered Mindanao’s crown jewels.

    "My personal proposal is to create a new company, [and] move the assets of Agus-Pulangi in that new company," Mr. Gatchalian said.

    "That company will operate as a GOCC (government-owned or -controlled corporation), but managed professionally," he said.

    "We can privatize the operation and maintenance, but the asset is owned by the government. What’s important here is that asset should be managed professionally," he said.

    He said his preference for private managers was because "government-style management... is prone to corruption."

    "It’s prone to inefficiency. So it has to compete just like any other power plant. It cannot rely on subsidies or incentives; it has to operate like any private genco," he said.

    The privatization of the Agus-Pulangi complex is a sensitive issue in Mindanao, where power rates remain low because of these plants’ cheap output. The Department of Finance has called for the sale of power assets that are still with the Power Sector Assets and Liabilities Management Corp. (PSALM) within three years.

    Privatization is required under Republic Act No. 9136 or the Electric Power Industry Reform Act (EPIRA) of 2001, the law that restructured the power industry. EPIRA created PSALM to take ownership of disposable power assets.

    Under EPIRA, the sale of Agus-Pulangi should be no earlier than 10 years from the effective date of the law in 2001. It prohibits schemes such as build-operate-transfer, build-rehabilitate-operate-transfer and other variations.

    Mr. Gatchalian’s comments come after the House of Representatives last month approved a bill creating the Mindanao Power Corp.

    The House bill seeks the non-privatization of the Agus and Pulangui hydropower facilities. It also pushes for a viable way for the government to operate and maintain the affordable power sources.

    Asked about a proposal that will restrict the use of the facilities’ revenues to Mindanao, he said: "That can’t be."

    "The subsidies being given to the SPUG (small power utilities group) areas come from all of us," he said, referring to areas in the Philippines that are not linked to the interconnected electricity grids in Luzon and the Visayas, and the separate grid in Mindanao.

    "The subsidies being given by the entire country go anywhere that needs it," he added. "I think we have to be fair because people in Luzon and Visayas are also subsidizing."


  • April 16, 2017 - WWF partners with Pure Energy Holdings


    The World Wide Fund for Nature (WWF) Philippines and Pure Energy Holdings Corporation (PEHC) recently entered into a partnership aimed at identifying areas of opportunities to deploy renewable energy projects, specifically run-of-river hydropower. These projects will not only reduce the country’s dependence on fossil fuels, but will conserve the few remaining Philippine rainforests and virgin watershed areas. In photo, from left, are Atty. Gia Ibay, head, Climate Change and Energy Programme, World Wide Fund for Nature; Jose Palma, president and CEO of World Wide Fund for Nature; Dexter Y. Tiu, chairman and CEO of Pure Energy Holdings Corporation; and Gary Espino, president and COO of Pure Energy Holdings Corporation.


  • April 16, 2017 - Power struggle: Solar, wind challenge coal as more affordable energy source
    In Photo: This file photo shows the Panay Energy Development Corp.'s 150-megawatt "clean coal" power plant the firm switched on last year. The power plant is considered the largest single-generation unit in the Visayas.

    Part One

    WITH much enthusiasm, climate and environmental advocates see the ratification of the Paris Agreement by the Philippine Senate both as a challenge and opportunity to shift from dirty fossil fuel to clean renewable energy (RE).

    Although ambitious, reducing the country's greenhouse- gas emission by 70 percent between 2020 and 2030 will be a tough nut to crack, as it struggles to sustain growth currently pegged at 6.8 percent last year.

    This goal is yet clearly a "conditional" commitment largely dependent on the support the Philippines will get from the international community.

    Last year the Climate Change Commission (CCC) said RE presents the biggest opportunity for local investment as the country plans to veer away from coal.

    An environmental advocate, Environment Secretary Regina Paz L. Lopez vowed to expedite the granting of environmental compliance certificates (ECCs) for RE projects while thoroughly reviewing ECCs for potentially destructive and environmentally unsound development projects—particularly mining and coal.

    Among the renewables, climate and environmental advocates are betting on solar and wind over coal in competing for huge investments pouring the power sector's way.

    Citing the "Boom and Bust 2017—Tracking the Global Coal Plant Pipeline" report, Greenpeace Philippines Climate and Energy Campaigner Reuben Muni said it is just a matter of time when investment starts shifting to the more economically viable clean, RE options, dropping coal in the process.

    Muni said ditching coal will eventually reverse the trend in favor of solar, wind or other RE sources.

    Laying blame

    WHILE admittedly one of the cheapest and reliable source of energy today, coal is being blamed by climate and environmental advocates for causing not only air, soil and water pollution that undermines human health and environment but for being the biggest contributor to global GHG emissions that trigger climate-change disasters.

    The Philippines is not oblivious to climate change-triggered disasters. In 2013 the strongest typhoon ever to make landfall in history devastated Central Philippines, leaving a trail of death and destruction. Climate-change effects, such as longer wet season and longer dry seasons, also cause enormous damage to food production areas that undermine the country's food-production capacity, including fisheries.

    While the Philippines is not one of the so-called big polluters, climate and environmental advocates said the Philippines should step back and cease from following the development track of developed countries only to make the turn-around later on./p>

    Instead, they said the Philippines can take a more sustainable development path by shifting from its use of dirty coal to more environment-friendly sources of energy, such as solar, wind, geothermal, possibly, ocean current, biomass or biogas—without compromising the integrity of its already fragile environment.

    Huge investment

    INVESTMENT in coal in the Philippines, as well as other energy sources, can only be estimated based on power-generating capacity power plants.

    For coal investment, the rough estimate can be based on those being constructed and those that are already existing, according to Muni. The country's current installed power-generation capacity is 18,765 megawatts (MW). With a 45-percent share, coal investment in the Philippines is pegged at $8.54 billion.

    This is a conservative estimate, as the Department of Energy figure accounts only for the power-generating capacity that goes to the main power grid.

    "A lot of these things are on a specific timeline," Muni said. "One MW of coal is equivalent to $1 million three years ago. But today, this may no longer be true."

    He explained the equivalent figure could even be higher because coal's volatility causes price to go up.

    Market forces

    MUNI said coal is like other goods that are subject to market forces at work—economic, politics—like oil and gas, coal price also change.

    "In the past, during the [Fidel V.] Ramos and Cory [Aquino] administration, our power was based on three big sources—hydro, geothermal and oil diesel," he said. In 2015 around 45 percent of the country's energy supply comes from coal, 23 percent of the country's energy supply comes from natural gas, 13 percent from geothermal, 11 percent from hydro and 7 percent from coal.

    At some point, oil became the biggest source of energy in the mid-1990s because of the Persian Gulf War and Middle East Crisis—when price of oil was very volatile.

    "During the last year of the Cory administration and the start of the Ramos administration, we only have the Calaca power plant—the first- ever coal plant in the Philippines," Muni explained. "Then came Pagbilao, Masinloc and Sual. The entry of coal as a power source started to boom."

    At that time, coal was the cheapest and most accessible source of energy, with the Philippines having the Semirara coal mine, and neighboring countries, such as Indonesia, China and Australia, possibly supplying the Philippines with adequate coal.

    Coal dependence

    THE Philippines is currently heavily dependent on coal.

    According to the DOE, coal has the highest contribution to the country's current power-generation mix pegged at 44.5 percent as of 2015.

    The local demand for coal is not limited to power generation.

    In 2015 the cement industry utilized 15.22 percent of the country's coal supply while 5 percent went to other industries, such as alcohol, sinter, rubber boots, paper and chemical manufacturing, fertilizer production and smelting processes, according to the DOE.

    This factor makes coal as having the biggest share in terms of investment in the country's energy sector.

    Industries, Muni said, are into coal use for economic reasons, which means the country's dependence on coal could be worse. The DOE, he said, only counts those that feed the power grid.

    Even oil companies, such as the Petron Oil Refinery in Limay, Bataan, he said has a coal plant with 140-MW capacity.

    While it powers its oil-refinery facility, Petron is also providing the power grid with the excess power it produces from its own coal-fired power plant, he said.

    Coal rise

    THE country' dependence on coal became more pronounced in the last 15 years. According to the DOE, since 2002, from a historical yearly average of 1.5 million metric ton (MMT), local coal production grew tremendously.

    Muni said the country started to shift from oil—then the dominant source of energy—to coal during the Cory and Ramos administration. The shift, he said, was because of economic reasons.

    "During the Persian Gulf war, oil became very volatile," he explained. "With the Philippines having its own coal resources, investment in power shifted to coal."

    But the Philippines, he said, only has low-grade coal, which means it has to import coal. Around 70 percent of the country's coal requirement are imported. Of that, around 90 percent comes from Indonesia, with the remaining 10 percent coming from Australia and China, making Philippines heavily dependent on Indonesia's coal industry.

    In the last 13 years, local production of coal grew almost four folds, with production peaking up to 8.17 MMT in 2015, according to the DOE.

    Muni said it was during this period that the country saw more coal-fired power-plant projects being approved and constructed to meet the increasing demand for energy.

    The shift to coal as a source of energy was attributed to the highly volatile price of oil in the world market and the failure of the DOE to promote RE sources to investors in the power sector.

    At that time, Muni admits that RE is not yet economically feasible and the technology not so much available in the Philippines.

    To be continued


  • March 24, 2017 - Pure Energy IPO gets regulator approval

    MANILA - The Securities and Exchange Commission has approved the P1.58-billion initial public offering of clean energy and bulk water firm Pure Energy Holdings Corp.

    Pure Energy will sell 930 million common shares with an option to sell another 46.5 million shares at an offer price of up to P1.62 per share, according to a stock exchange filing.

    The offer represents 15.6 percent of the company's authorized capital stock.

    The company tapped Abacus Capital Securities to be the sole underwriter for the offering.

    Pure Energy is the third company to secure approval for an IPO this year, after Wilcon Depot Inc. and Bermaz Auto Philippines Inc.

    Other IPO applications pending with the SEC include Xeleb Technologies Inc., AudioWav Media Inc., Cebu Land Masters Inc., and Eagle Cement Corp.


  • March 23, 2017 - SEC clears IPO plan of Pure Energy

    The Securities and Exchange Commission on Thursday approved the P1.58-billion initial public offering of Pure Energy Holdings Corp., an investment holding firm with interests in renewable power and bulk water supply and distribution projects.

    SEC commissioner Ephyro Luis Amatong in a text message confirmed the IPO approval.

    Documents filed with SEC showed that Pure Energy would sell 930 million common shares with an option to sell another 46.5 million shares in case of strong demand at P1.62 per share.

    The offer shares represent 15.6 percent of the company’s authorized capital stock.

    The company tapped Abacus Capital Securities as the sole underwriter for the offering.

    Proceeds from the maiden share offering will be used to finance project financing of various hydropower projects and acquire existing hydropower projects.

    Pure Energy is the third company to secure IPO approval from the SEC. The first two were Wilcon Depot Inc. and Bermaz Auto Philippines Inc.

    Other IPO applications pending with the SEC are those of Xeleb Technologies Inc., AudioWav Media Inc., Cebu Land Masters Inc. and Eagle Cement Corp.


  • March 23, 2017 - Governments urged to give renewable energy a major push for greater number of consumers
    In Photo: Wind power is harnessed to generate electricity in this windmill farm in Pililia, Rizal. Ganesh Pangare, regional director for Asia Pacific of the International Water Association, urged governments to give renewable energy a big push for the benefit of the global population.

    Governments should craft and implement policies that will give renewable energy (RE) the much-needed push to make it available to the great majority of people.

    The statement was made by Ganesh Pangare, regional director for Asia Pacific of the International Water Association (IWA), on the sidelines of the ongoing Water Philippines Expo 2017. The biennial event for the first time features RE as part of the exhibition, apart from 120 different products and services in water supply, sanitation, wastewater treatment and water purification.

    Pangare pointed out that RE is mostly used by the private sector or individual entrepreneurs.

    "I think, there also has to be a policy angle in the terms that governments can’t just keep a blind eye that this is happening. I think, we do need more investment coming from the state. Some of the poorest of the poor don’t have energy…while the rich are getting subsidized fossil energy. That is the disparity that I am trying to highlight," Pangare said in an interview with the Philippines News Agency.

    He noted a large portion of Asia does not enjoy a stable 24/7 supply of power they can use on demand.

    By using solar technology and distribution generation, people living in rural or isolated areas will be able to enjoy a continuous supply of electricity, he added.

    "Renewable energy provides a fixed, assured energy source and, therefore, farmers can irrigate when the crop needs irrigation, and then the resource ground water is saved because they will be taking out only what they need and not pumping out and storing it and then just wasting it," Pangare said.

    Today, with the advances in technology, solar products have become more affordable that even farmers with a small piece of land could buy his own solar-power generator to water his farm, he said.

    The same solar energy has enabled people living in remote areas to use cell phones, Pangare added.

    "In villages in India, people had no telephone connections and now, everybody has mobile phones, and with renewable energy or solar, people can charge their mobile phones," he said.

    On conserving water resources, Pangare emphasized the need to find a solution to the wastage of non-revenue water.

    "[Nonrevenue water] is basically water lost by the utility somewhere in the course of distribution and, therefore, does not get charged to the customer. This loss can go as high as 60 percent, sometimes. Therefore, not only did we lose 60 percent of the water, but we also lost 60 percent of the energy needed to transport that water," he pointed out.

    Pangare related that two years ago, India established a Ministry of Renewable Energy and has since made RE a viable alternative source, especially for rural areas.

    "For a country with a population of 1.2 billion, trying to get targets of 20 percent to 25 percent based on renewable [sources], it has to be done on a mission mode. Everybody has to come together—government, the private sector, entrepreneurs—all of them have to come together, but at least, the thrust has come from the government. It’s a very positive thing," he said.

    Water Philippines Expo, held every two years since 2011, features the latest products in water supply and sanitation, sewerage, industrial-wastewater practices, trends and technologies. This year’s exhibition not only showcases products, technology and services in the water and RE industry. Visitors may also attend seminars and lectures on technical subjects, such as climate change, water-supply efficiency, and water quality and sanitation initiatives.

    The exhibition, organized by the Philippine Waterworks Association, runs until Friday (March 24) at the SMX Convention Center in Pasay City.


  • March 22, 2017 - Another Joint Venture Partnership signed, this time with the Willy Ocier group. Synergies Reinvented by Pure Energy
    Another Joint Venture Partnership signed, this time with the Willy Ocier group. Power Reinvented by Pure Energy

  • March 9, 2017 - WWF teams up with Pure Energy

    The World Wide Fund for Nature Philippines teamed up with Pure Energy Holdings Corp. to deploy renewable energy projects, specifically run-of-river hydropower facilities in the country.

    These projects will not only reduce the country’s dependence on fossil fuel, but will be an institutional investment in conserving the few remaining Philippine rainforests and virgin watershed areas, the two groups said.

    "The attainment of the country’s sustainable development is founded on multi-sectoral partnerships. The collaboration between Pure Energy and WWF-Philippines promotes renewable energy and sustainable water supply, which will help transform the lives of local communities while taking care of the environment," said WWF-Philippines president and chief executive Joel Palma.

    PEHC chairman and chief executive Dexter Tiu said: "We are excited to work together with WWF-Philippines as our advocacy to provide every Filipino with clean renewable energy and sustainable water supply coincides with WWF’s mission."


  • March 8, 2017 - Pure Energy, WWF-Philippines Team Up to Promote Hydropower

    World Wide Fund for Nature (WWF) Philippines has partnered with PURE ENERGY Holdings Corp. to identify areas in the country where they can deploy renewable energy projects with focus on run-of-river hydropower.

    "We are excited to work together with WWF-Philippines as our advocacy to provide every Filipino with clean renewable energy and sustainable water supply coincides with WWF’s mission," said Dexter Y. Tiu, Pure Energy chairman and chief executive officer, in a statement on Tuesday.

    Pure Energy said the projects would not only cut the country’s dependence on fossil fuels, but would become "institutional investment" in conserving the country’s remaining rainforests and virgin watershed areas.

    "The collaboration between Pure Energy and WWF-Philippines promotes renewable energy and sustainable water supply, which will help transform the lives of local communities while taking care of the environment," said Joel Palma, president and chief executive officer of WWF-Philippines.

    Mr. Tiu said his company’s core value demands the preservation of the natural watershed environment to sustain energy and water resources while guaranteeing the viability of projects for the next hundred years.

    He said the company’s three operating run-of-river hydropower plants, which are 90 years old, are proof of its priority and commitment to its stakeholders.

    Under the partnership, WWF-Philippines and Pure Energy will handle a campaign called "Seize the Flow" in identifying areas where run-of-river hydropower can be used. The drive also aims to promote awareness of the advantages of hydropower and watershed preservation.

    The campaign builds on WWF’s global platform launched in June 2013, which calls on financial institutions "to significantly increase their funding of renewable energy and cut fossil fuel funding."

    Reference:
    Saulon, V. V. (March 8, 2017). Pure Energy, WWF-Philippines team up to promote hydropower. Business World. Retrieved from https://www.bworldonline.com/content.php?section=Corporate&title=pure-energy-wwf-philippines-team-up-to-promote-hydropower&id=141832


  • February 22, 2017 - Market Edge on ANC with Pure Energy President and COO Gary Espino

    The push for renewables turns up a notch as demand for renewable energy picks up. Pure Energy, a renewable energy company is slated to IPO 1st half of this year. Pure Energy President, Gary Espino joins Cathy Yang on ANC's Market Edge.

    * All copyright claims to this video are reserved to ANC.


  • February 15, 2017 - Starting Gate on Bloomberg Philippines with Pure Energy's President and COO Gary Espino

    * All copyright claims to this video are reserved to Bloomberg Philippines.
    * Visit this link for the full video.


  • February 6, 2017 - Pure Energy eyes 500 MW in 5 years

    MANILA, Philippines - Pure Energy Holdings Corp. is eyeing more investments in the renewable energy sector – apart from hydropower ventures – as it looks to have a 500 megawatts (MW) of total capacity in five years, company officials said.

    Pure Energy is looking at forming a basket of renewable energy projects such as wind, solar and biomass to expand its portfolio after it lists in the local bourse, company president and chief operating officer Gary Espino said in an interview.

    "The opportunity to hit 500 MW is not far fetch over a five-year period," he said.

    The company is currently in talks with other developers for possible partnerships, Espino said.

    "We’re always prospecting. We’re very opportunistic apart from 153 MW (in the pipeline), we continue to stay in the market and look for other opportunities. Right now, though I cannot discuss them further, (we’re under) exploratory discussions with other parties, also in renewable," he said.

    Incorporated in 2013, the company is working on a total capacity of 153 MW composed of several hydropower projects and one geothermal facility through its subsidiaries Repower Energy Development Corp. and Pure Geothermal Inc.

    Pure Energy has filed an application with the Securities and Exchange Commission to sell 930 million common shares – with an option to sell 46.5 million shares more – at P1.62 per piece, looking to raise P1.5 billion.

    It is looking to conduct its initial public offering within the first half of the year.

    Proceeds will be used for the development of hydropower projects, Pure Energy chief executive officer Dexter Tiu said.

    For other renewable energy projects, the company sees viability in investing in solar projects even without the Feed-in Tariff (FIT) scheme due to plunging prices and short-term development it takes to complete, Espino said.

    FIT is a set of incentives given to renewable energy developers for 20 years. However, the current administration is not keen on expanding the FIT scheme into another round.

    "For solar farms, you can easily build 100-MW facilities because it only takes six months," he said. "Opportunity for a viable project is very good because solar prices have gone down and they continue to go down."

    The company is also eyeing opportunities in wind projects even without FIT, Repower Energy president and COO Johnson Sanhi said in the same interview.

    "Yes, we’re looking into wind even without FIT. We can do PSA (power supply agreements) with a local DU (distribution utility)," he said.


  • February 6, 2017 - Pure Energy allots P7.2B for 9 projects with Meralco

    PURE ENERGY Holdings Corp. expects to spend P7.2 billion for the nine mini-hydroelectric power projects it is undertaking in partnership with the country’s largest distribution utility Manila Electric Co. (Meralco), company officials said.

    "We financially closed already with the first two projects [with Meralco]. We have lenders," Gary M. Espino, Pure Energy president and chief operating officer, said on Friday.

    The funding for the projects will be 75% debt financing and 25% internally generated funds, he added.

    Pure Energy owns 50% plus one share of the joint venture, named Pure Meridian Hydropower Corp., while Meralco holds the rest. Equity for the projects will have the same structure, Mr. Espino said.

    "[There are a] total of nine projects under our venture. We have broken ground on one in Bukidnon for 10.6 megawatts (MW) and construction will start soon," he said. "We are breaking ground this month for the second project with Meralco, that’s in Quezon, for 3 MW."

    The run-of-river hydro power plant in Pulanai River, Bukidnon is expected to generate more than 74 gigawatt-hours annually.

    "The timeline here is 24 months so we’re looking at mid to last half of 2019, where we expect that to be full commercial operation," he said. "We’re availing of the feed-in-tariff [for all the projects]."

    The Energy department has a set a quota of 250 MW for mini-hydroelectric power projects, of which Mr. Espino estimates around 206 MW have been taken up. Projects that qualify for the feed-in-tariff (FiT) are guaranteed to receive P5.90 for each kilowatt-hour they export to the grid.

    "We believe that we will meet those targets. We’re very aggressive with our projects," he said.

    Aside from the Meralco partnership, Pure Energy is also jointly developing a P620-million hydro power plant with the group that owns food and fishing conglomerate Frabelle Corp.

    The 3-MW facility -- which will be 60% owned by Pure Energy -- will be built in the upper cascade of the Labayat River, while a power station will be built in Barangay Maragondon, in Real town, Quezon province.

    Mr. Espino said Pure Energy’s existing and planned projects, under subsidiary Repower Energy Development Corp., have a total capacity of 153 MW, of which 123-125 MW will come from hydro energy.

    The company also owns a "brownfield" geothermal field, or an existing asset that can be upgraded, in Southern Leyte.

    Of these projects, only three are already exporting power to consumers -- the three hydro power facilities of Philippine Power and Development Co., which Pure Energy bought in November 2015. The plants in Laguna sell their output to Meralco.

    "Those are the Laguna plants -- the 90-year-old plants. Two of them are being rehabilitated at the moment so that we can double the capacity," said Dexter Y. Tiu, Pure Energy chief executive officer.

    "As of now, we have a PSA [power supply agreement] with Meralco. That’s still two more years. [After that] we can negotiate with Meralco if they can give us at least somewhere near the FiT (feed-in-tariff) rate," he said.

    Victor Lee, Pure Energy chief financial officer, said the Laguna plants have a capacity of "slightly over 1 MW but after the upgrade, almost 2 MW." By the end of March, the plants will be in the commissioning phase. The rehabilitation cost is pegged at P330 million.

    Mr. Tiu said that as a "rule of thumb" each megawatt of capacity would cost around $400-$450 million to build.

    Pure Energy last week disclosed plans to sell shares via a P1.5-billion initial public offering. The company targets the listing in the first half of 2017 for 930 million common shares, plus an option to sell an additional 46.5 million, at a maximum indicative listing price of P1.62 each share.


  • December 20, 2016 - P1-B bulk water project kicks off


    THE groundbreaking for the P1.1-billion Bacolod Bulk Water Supply Project on a 2,500-square meter lot in Abada-Escay Road, Barangay Granada was held Monday for the start of the construction of water treatment plant.

    The groundbreaking rites was attended by personnel of Bacolod Bulk Water Inc. (BBWI), Bacolod City Water District (Baciwa) along with the city and barangay officials.

    Ryan Yapkianwee, chairman of BBWI, said that on September 15, 2016, they received a notice to proceed from Baciwa.

    He said the BBWI will start supplying potable water to Baciwa in the fourth quarter of 2017.

    "Our combined technologies will be soon be commercially ready to address Bacolod City’s bulk water needs and relieve pressure on Baciwa’s dwindling well water supply," Yapkianwee added.

    BBWI will use the Ngalan River in Barangay Granada as surface water source.

    The construction of the water system covers the water treatment plant with an initial capacity of 30,000 cubic meters per day for the two injection points, escalating to 150,000 cubic meters per day through a 20-kilometer long water supply pipeline directly connected to the reservoirs of Baciwa located at Barangays Granada and Mansilingan.

    Yapkianwee said the project will utilize at least six million cubic meters of water each year from BBWI’s surface water sources.

    He added that the project will provide immediate access to quality and affordable water to Bacolod residents for a healthier environment, improving sanitation and hygiene conditions.

    The bulk water project will provide water supply to Baciwa at a blended rate of P9.35 per cubic meter.

    "The 25-year bulk water supply contract signed on March 22, 2016 between Baciwa and a consortium led by Tubig Pilipinas Group Inc., Mactan Rock Industries, and TVG Builders Inc., formed a special purpose called BBWI to undertake this project," he added.

    Yapkianwee said they have complied with all the requirements and are securing permits to start the construction.

    He said at least four surface water sources will be utilized, including three rivers in Injection Point 1, and one river in Injection Point 2.

    The BBWI is using Baciwa’s water rights permit and after seven years, they will turn over the system to the Baciwa management for free.

    "Hopefully, with this project we will not only be able to supply water shortage, but will also be able to help the new applicants for the new developments in Bacolod," Yapkianwee said.

    Engineer Mario Macatangay, general manager of Baciwa, said the bulk water project will augment the shortage of water supply in the city. Macatangay admitted that Baciwa is short on water supply by an estimated five million liters per day.

    "The production of this facility (bulk water project) is 15 million liters per day so by October next year, we hope that we can serve our consumers better," he said.

    Macatangay said there are areas in Bacolod with only four to six hours of water supply.

    "This project has been long awaited and we will show to our critics that we are really keen on pursuing our objectives of providing potable water to all consumers of Baciwa," he added.


  • December 13, 2016 - Meralco-REDC partnership starts P2.7-B hydro project

    The team-up of Manila Electric Co. and Repower Energy Development Corp. have started works on the P2.7-billion hydropower project in Bukidnon. *Photo by Philstar Global


    MANILA, Philippines - The team-up of Manila Electric Co. (Meralco) and Repower Energy Development Corp. (REDC) have started works on the P2.7-billion hydropower project in Bukidnon.

    The partners recently held a ground breaking ceremony for the 10.6-megawatt (MW) run-of-river hydropower project in the Pulanai River.

    Pure Meridian Hydropower Corp. (PMHC), the joint venture company, will oversee and operate the hydropower project.

    "This will be PMHC's vanguard project in Mindanao and will serve as a platform to roll out more run-of-river projects in the near future. This is a legacy project that we are building for the benefit of the next generations to come." PMHC president and CEO Dexter Tiu said.

    During its construction phase, the project will employ more than 400 people.

    The project, expected to start commissioning by the first half of 2019, will generate millions of pesos in revenues for the local government units as part of their share based on the Renewable Energy Act.

    The Pulanai project is Meralco's first foray in renewable energy and in run-of-river mini-hydropower, manifesting its firm support for the development of the renewable energy sector, PMHC chairman and Meralco senior vice president Alfredo Panlilio said.

    "We are also glad to note that this initiative will provide the much needed additional capacity in the Mindanao grid through a stable, clean and reliable energy source," he said.

    For REDC, this is its third mini-hydropower groundbreaking for the year, and its first in Mindanao.

    The company has three operational run-of-river hydropower plants in Laguna that will see its capacities increase more than four-fold by next year.

    Meralco and REDC forged a partnership in December 2015 to build and develop mini-hydropower plants using run-of-river resources.


  • December 13, 2016 - P2.7-B hydropower project breaks ground in Bukidnon

    A hydropower project in Bukidnon that is targetted to generate over 74 gigawatt hours annually through a 10.6 megawatts (MW) run-of-river Hydropower plant in the Pulanai River broke ground on December 9.

    This joint project of the Manila Electric Co. (Meralco) and Pure Energy Holdings Corporation's subsidiary Repower Energy Development Corporation (REDC) will be built at a cost of P2.7 billion.

    Meralco and REDC have formed a joint venture company, Pure Meridian Hydropower Corporation (PMHC) to oversee and operate the Pulanai Hydropower Project located in Lumbayao, Valencia City, Bukidnon Province.

    The three hydropower plants that REDC is currently operating was built by the Americans and has been running for 90 years. PMHC officials said that once the the Pulanai hydropower plant becomes operational, it will be able to supply clean, sustainable, and renewable energy to the Mindanao Grid for the next 100 years.

    "This will be PMHC's vanguard project in Mindanao and will serve as a platform to roll out more run-of-river projects in the near future. This is a legacy project that we are building for the benefit of the next generations." PMHC President/CEO and Pure Energy Holdings Corporation Chairman and CEO Dexter Y. Tiu said.

    Construction will start soon and the hydropower plants will be commissioned by the first half of 2019. This project will also employ more than 400 people during its construction phase.

    Once energized, the power plant will also generate millions of pesos in revenues for the local government units as part of its share based on the Renewable Energy Act.

    "Our investment in Pulanai Mini Hydro is a manifestation of our firm support for the development of the renewable energy sector. We are also glad to note that this initiative will provide the much needed additional capacity in the Mindanao grid through a stable, clean and reliable energy source," PMHC Chairman and Meralco Senior Vice President Alfredo S. Panlilio said.

    REDC was established in 2013 to address the country's need for additional investments in the renewable energy sector. Its goal was to build and operate more low impact run-of-river hydropower plants all over the country.

    Meralco is the largest electric distribution company in the Philippines covering 36 cities and 75 municipalities, including Metro Manila. It's franchise area of over 9,337 kms covers the core of the country's industrial, commercial, and population centers serving more than 6 million customers by the end of 2015. It has a market capitalization of US$7.7 billion.

    The Pulanai Mini Hydropower Projectis the first of several PMHC projects to begin construction.This is Meralco's first foray into renewable energy and in run-of-river mini hydropower.

    This is its third mini hydropower plant that REDC broke ground this year, and its first in Mindanao.The company has 3 operational run-of-river hydropower plants in Laguna that will see its capacities increase by more than four-fold next year.

    The ground breaking ceremony was graced by President Rodrigo Duterte, Energy Secretary Alfonso Cusi, and Mayor Azucena Huervas of Valencia City.


  • December 13, 2016 - PMHC targets commissioning of Pulanai hydropower plant by 2019

    MANILA ELECTRIC Co. (Meralco) and its partner Repower Energy Development Corp. target the first half of 2019 as the start of the commissioning phase of the 10.6-megawatt (MW) run-of-river hydropower plant they are jointly building in Pulanai River, Bukidnon.

    In a statement, Dexter Y. Tiu, president and chief executive officer of the joint venture company Pure Meridian Hydropower Corp. (PMHC), the P2.7-billion plant is the company's "vanguard project" in Mindanao. It will also serve as a platform to roll out more run-of-river projects, he added.

    "This is a legacy project that we are building for the benefit of the next generations to come," said Mr. Tiu, who is also chairman and chief executive of Pure Energy Holdings Corp., the parent firm of Repower.

    The project in Lumbayao, Valencia City in Bukidnon province will employ around 400 people during the construction phase. It is expected to generate more than 74 gigawatt-hours annually from the renewable energy source. It recently broke ground in ceremonies attended by President Rodrigo R. Duterte and Energy Secretary Alfonso G. Cusi.

    PMHC Chairman Alfredo S. Panlilio said the project "is a manifestation of our firm support for the development of the renewable energy sector."

    "We are also glad to note that this initiative will provide the much needed additional capacity in the Mindanao grid through a stable, clean and reliable energy source," said Mr. Panlilio, who is also Meralco senior vice-president.

    Repower has three hydropower plants, which were built by the Americans, are 90 years old and still running, PMHC said. Once operational, the Pulanai hydropower plant will be able to supply clean, sustainable and renewable energy to the Mindanao grid for the next 100 years, it added.

    The Pulanai plant is the first of several PMHC's projects to begin construction. It is Repower's third mini-hydropower groundbreaking for the year, and its first in Mindanao.

    Meralco is the country's largest electric distribution company. It serves more than 6 million customers in 75 towns and 36 cities, including Metro Manila. The project is Meralco's first venture in run-of-river mini hydropower.

    Meralco's controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls.


  • December 10, 2016 - Duterte to NPA: Stop attacks on energy, communication facilities

    President Rodrigo Roa Duterte delivers his keynote address during the groundbreaking ceremony of the Pulanai 10.6MW Hydroelectric Power plant in Barangay Lumbayao, Valencia City, Bukidnon on December 9, 2016. KIWI BULACLAC/Presidential Photo. *Photo by Inquirer.net


    President Rodrigo Duterte has asked the New People's Army (NPA) to stop attacking and damaging energy and communication facilities, citing their propensity to burn equipment of companies who refuse to pay revolutionary tax.

    "Ang style kasi ng NPA, pag hindi niyo naibigay, sunugin (NPA's style is if they don't get what they want, they'll burn [the facility]). Hoy. Makinig kayo ha. Huwag ninyong pakialaman 'yung sa tao (Hey! Listen. Don't mess with the [facilities] for the people). Energy, communication, everything. Lay off, lay off," Duterte during the inauguration of the 10.6-megawatt Pulanai hydroelectric power plant in Bukidnon.

    The NPA, the armed wing of the Communist Party of the Philippines (CPP) has bombed and torched different facilities in the country as retaliation to firms who do not pay revolutionary tax.

    "May I ask the New People's Army, 'wag niyo itong hingian kasi pag nagkuha kayo ng pera sa kanila, itong mga 'to mag-plano naman kung paano pataasan nila 'yung electric," he said. (May I ask the NPA, don't ask for money, because once you get money from them, these [firms] will plan on increasing fees for electricity.)


    President Rody Duterte leads the groundbreaking ceremony of the Pulanai 10.6MW Hydroelectric Power plant in Barangay Lumbayao, Valencia City, Bukidnon on December 9, 2016. KIWI BULACLAC/Presidential Photo


    The Philippine government and the communist rebel are currently on a ceasefire agreement as both sides pursue the peace talks.

    The National Democratic Front (NDF) has demanded the release of over a hundred political prisoners but Duterte has rejected their demand. The President said he wanted the both parties to sign an indefinite bilateral ceasefire.

    "You're asking or demanding the release of 120 political prisoners. I denied it. I declined to do it because I have given so much too soon. Sabi ko sa kanila (I told them), produce to me a document which is that you have agreed to an indefinite ceasefire," Duterte said.

    Political prisoners, NDF consultants and human rights advocates are on a hunger strike to demand from Duterte the release of political prisoners.



  • December 9, 2016 - President Duterte Leads Groundbreaking of 10.6MW Pulanai Hydroelectric Power Plant

    * Video courtesy of GMA News

    On December 9, 2016 President Rodrigo Duterte led the groundbreaking Pure Meridian Hydropower Corporation's Pulanai10.6 Megawatt Hydropower Plant located in Valencia City, Bukidnon. The Plant will be operational by the first quarter of 2018 and will be supplying clean, renewable energy to the Mindanao Grid.



  • December 9, 2016 - HAPPENING NOW: President Rodrigo Duterte speaks at the groundbreaking ceremony of the Pulanai Hydroelectric Power Plant in Valencia, Bukidnon. www.cnn.ph


    Highlights:
    - Duterte: I declined further release of political prisoners
    - Duterte questions source of $10 billion "green fund"
    - Duterte: Big nations have undue advantage in climate deal
    - Duterte criticizes absence of sanctions in climate treaty
    - Duterte: No sanctions in climate treaty
    - Duterte discusses climate change


  • December 2, 2016 - Tubig Pilipinas to start projects in Negros Occidental, Isabela by year-end



  • December 1, 2016 - Tubig Pilipinas to start projects

    Tubig Pilipinas Group Inc., a subsidiary of Pure Energy Holdings Corp., said it is set to begin operations in Bacolod City and Cadiz City, both in Negros Occidental and Echague town in Isabela before the end of the year.

    Tubig Pilipinas president and chief operations officer Ryan Yapkianwee said the projects would improve sanitation and provide access to clean potable water in the areas, making the LGUs compliant to the Clean Water Act of 2004.

    He said for the Bacolod City project, a notice to proceed was issued by the Bacolod City Water District to the Bacolod Bulk Water Inc., which is led by Tubig Pilipinas.

    In Cadiz City, Tubig Pilipinas will own, operate and maintain a bulk water supply project which will serve 3,500 households. Tubig Pilipinas said that in Echague, the company was granted the franchise and authority to construct, operate, manage and maintain a water, sewage and septic utility system.



  • May 24, 2016 - RE firm to government: Prioritize mini-hydropower projects

    A renewable-energy (RE) developer on Tuesday said government investment policies should prioritize the development and construction of mini-hydropower projects, which, it said, are the most environment-friendly energy sources.

    "We believe that there is a need to give greater importance and priority to small-scale hydropower projects. Energy producers share a common commitment to the potential and the need for rapid growth in the development of clean, efficient and low-risk energy solutions," Victor Lee, Repower Energy Development Corp. (REDC) CFO, said.

    Noting that the small hydropower sector is primarily driven by private investment, Lee highlighted the potential of mini-hydropower, and the steps should be taken to attract more investments in the small hydropower sector from public investors.

    "With today's improvements in technology, we can easily foresee turbines lasting for 100 years," Lee said.

    He added that financing mini-hydropower projects normally entails 70 percent to 80 percent in debt and 20 percent to 30 percent through equity; while there is also nonrecourse project financing available through government-owned-and-controlled banks, where a grace period on principal repayments during construction period is given.

    His company, REDC, a subsidiary of Pure Energy Holdings Corp., has already broken ground on three mini-hydropower projects, one of which is the recently acquired oldest operating mini-hydropower plant of Philippine Power and Development Co. that stood since 1927. REDC's upgrade is expected to have a 200-percent increase in nameplate power capacity and an 800-percent increase in the energy-generation output.

    "Our run-of-river mini-hydro development projects all have service contracts with the Department of Energy [DOE] for 25 years, which may be extended for another 25 years. This could potentially last for 50 years, which is very attractive for investment," he added.

    Lee further noted that the incentive scheme for the sector is more attractive involving single-window clearances for such projects, including sites, clearances, survey and investigation of such projects to interested developers.

    However, he also noted that the development of small hydropower infrastructure in the country has been less than satisfactory, and that there's a need to expedite huge untapped potential of the infrastructure at a faster pace to meet the unmet energy demands of the country, as well as to balance clean energy with fossil fuel- generated energy.

    "Our small-scale infrastructure investment in the country is not enough. REDC has strong project management, engineering and construction capabilities, and we can deploy capital rapidly to deliver high-quality mini-hydro assets to support the sustainable development of the country. We're ready to provide this technology to the public," Lee said.

    Some sectors are showing signs of interest in small hydropower investments, he added, due to a feed-in tariff system and the government's desire to cultivate its renewable sector and achieve its commitment in the 2015 United Nations Climate Change Conference.


  • May 24, 2016 - Expert sees great PH potential in mini-hydro development

    A finance expert in clean energy generation said the Philippines had great investment potential in mini-hydroelectric power projects and has called for more support and investments in renewable energy projects.

    At the 3rd Annual Power & Electricity World Philippines Conference, Victor Lee, CFO of Repower Energy Development Corp. (REDC), called on fellow investors to give priority to mini-hydropower projects.

    Investors are showing signs of more interest in small hydropower investments in the country, Lee said, due to a feed-in tariff (FIT) system and the government's desire to cultivate its renewable sector and achieve its commitment in the 2015 United Nations Climate Change Conference or COP21.

    In July 2012, the ERC approved FIT rates for run-of-river hydro (P5.90 per kilowatt-hour or kWh) for an installation target of 250 megawatts (MW), biomass (P6.63/kWh) for 250 MW, solar (P9.68/kWh) for 50 MW and wind (P8.53/kWh) for 200 MW.

    His company, REDC, a subsidiary of Pure Energy Holdings Corp., has broken ground on three mini-hydropower projects, one of which is the recently acquired oldest operating mini hydropower plant of Philippine Power & Development Co. (Philpodeco) that has stood since 1927. REDC's upgrade is expected to result in a 200-percent increase in nominal power capacity and 800-percent increase in the energy generation output.

    "Our run of river mini hydro development projects all have service contracts with the Department of Energy (DOE) for 25 years which may be extended for another 25 years. This could potentially last for 50 years which is very attractive for investment," he said.

    Lee said the incentive scheme for the sector was more attractive, involving single window clearances for such projects including sites, clearances, survey, and investigation of such projects to interested developers.


  • May 24, 2016 - PH URGED TO INVEST IN MINI HYDRO

    Renewable energy developer Repower Energy Development Corp. (REDC) said the country can get more investments in mini-hydropower projects if the government partners with the private sector to boost interest in this power source.

    "We believe there is a need to give greater importance and priority to small-scale hydropower projects… With today's improvements in technology, we can easily foresee turbines lasting for 100 years," said Victor Lee, chief financial officer of REDC.

    Lee added since the Philippines has lots of water resources, it should invest in renewables particularly in mini-hydropower projects, where current developments are primarily driven by the private sector, presenting an opportunity as well for public investors.

    "Financing mini-hydropower projects normally entail70 to 80 percent in debt and 20 to 30 percent through equity. There is also non-recourse project financing available through government-owned and-controlled banks where a grace period on principal repayments during construction period is given," Lee said.

    Based on industry standards, the cost of developing small-scale hydro project is at P4 million per megawatt (MW).

    "Our run of river mini-hydro development projects all have service contracts with the Department of Energy (DOE) for 25 years which may be extended for another 25 years. This could potentially last for 50 years which is very attractive for investment," Lee said.

    The company also commended government's feed-in-tariff incentive scheme, which alsoinvolves single window clearances for sites and clearances, survey and investigation of renewable energy projects for interested developers.

    At present, aside from priority dispatch in the electricity spot market, run-of-river hydroplants enjoy a fixed rate of P5.90 per kilowatt hour.


  • May 23, 2016 - Small-scale hydropower projects pushed

    SMALL hydroelectric power projects in the Philippines are viable investments for the private sector because of their long-term service contracts, but support is needed from regulators to hasten their development, an official of Repower Energy Development Corp. said.

    "Our run-of-river mini-hydro development projects all have service contracts with the Department of Energy (DoE) for 25 years which may be extended for another 25 years. This could potentially last for 50 years which is very attractive for investment," said Victor J. Lee, Repower's chief financial officer, in a statement.

    The extended contracts compares favorably against the long asset life of hydropower technology, with turbines lasting for a hundred years with the improvement in technology, he said.

    Financing mini-hydropower projects normally requires a 70%-80% in debt and 20%-30% equity, Mr. Lee said, adding that government financial institutions now offer non-recourse funding where a grace period on principal repayments is given during the construction period. Non-recourse loans are attractive for investors as the lender is entitled only to repayment from the profits of the project that the loan is funding.

    But Mr. Lee said the development of small hydropower infrastructure had been "less than satisfactory," adding that there was a need to tap its potential sooner, to fulfill unmet energy demands while striking a balance between clean energy and fossil fuel-generated energy.

    "We believe that there is a need to give greater importance and priority to small-scale hydropower projects. Energy producers share a common commitment to the potential and the need for rapid growth in the development of clean, efficient, and low-risk energy solutions," he said.

    Mr. Lee said an incentive scheme for the sector would be more attractive for interested developers with single-window clearances for the various phases of the project.

    Repower, a subsidiary of Pure Energy Holdings Corp., has broken ground on three mini-hydropower projects, one of which was recently acquired from Philippine Power and Development Co. The mini-hydropower plant is said to be the country's oldest operating facility, dating back to 1927.

    After an upgrade, the plant is expected to have a 200% increase in nameplate power capacity and an 800% increase in the energy generation output, the company said.


  • May 23, 2016 - REDC, Repower urges more investment in mini-hydropower

    MINI-HYDROPOWER projects must have priority in terms of investment support to meet the country's need for clean power, according to Repower Energy Development Corp. (REDC).

    "We believe that there is a need to give greater importance and priority to small-scale hydropower projects. Energy producers share a common commitment to the potential and the need for rapid growth in the development of clean, efficient, and low-risk energy solutions," Victor Lee, chief financial officer of REDC said.

    The statement comes on the heels of plans by the Department of Energy (DOE) plan to legislate a fuel mix-policy and set aside current incentives in favor of the development of renewable energy source under Republic Act (RA) 9513 or the Renewable Energy Act of 2008.

    Because the Philippines is blessed with water resources, Lee said Filipinos should maximize and invest in renewables since there is a sustainable and long-term development potential in mini-hydropower projects.

    "With today's improvements in technology, we can easily foresee turbines lasting for 100 years," said Lee, noting the long-term asset life of hydropower technology.

    Financing mini-hydropower projects normally entails 70 to 80 percent debt and 20-30 percent equity. There is also project financing available through government-owned and -controlled banks, with a grace period on principal repayments during the construction stage.

    REDC, a subsidiary of Pure Energy Holdings Corporation, has broken ground for three mini-hydropower projects, one of which is the oldest operating facility of the Philippine Power & Development Company (Philpodeco) that started in 1927.

    "Our run-of-river mini-hydro development projects… have service contracts with the DOE for 25 years, which may be extended for another 25 years. This could potentially last for 50 years which is . . . attractive for investment," Lee noted.

    The incentive scheme for the sector involves single-window clearances for sites, clearing, survey, and due diligence.

    However, Lee noted the development of small hydropower infrastructure has been less than satisfactory. There's a need to hasten the development of untapped potential for the power infrastructure to meet the demand and to create a balance between clean energy and fossil fuel power plants.

    "Our small-scale infrastructure investment in the country is not enough. REDC has strong project management, engineering, and construction capabilities and we can deploy capital rapidly to deliver high-quality mini-hydro assets to support the sustainable development of the country. We're ready to provide this technology to the public," said Lee.

    Some sectors are getting interested in investment in small hydropower due to the feed-in tariff (FIT) system and the government's desire to cultivate its renewable sector and achieve its commitment in the 2015 United Nations Climate Change Conference or COP21, Lee added.


  • May 10, 2016 - REDC set to build hydro plant in Labayat, Quezon

    THE Repower Energy Development Corp. (REDC), the mini hydropower business of local investment holding company Pure Energy Holdings Corp. (PEHC), broke ground for a run-of-river hydropower-plant project in Upper Labayat, Quezon Province. The hydro facility will be built in the upper cascade of the Labayat River, while the power station itself will be built at Barangay Maragondon, Municipality of Real, Quezon.

    With an installed capacity of 3 megawatts (MW), the power plant will generate over 16 gigawatt (GWh) of clean and renewable energy annually, which is equivalent to the consumption of around 20,000 households. This makes the Upper Labayat mini hydropower plant one of the most efficient power plants constructed by REDC.

    The high-pressure hydropower plant station will use water from the Upper Labayat river stream and produce power for the local community. The plant is scheduled to begin its operations in the fourth quarter of 2018, after a construction period of about two years.

    Upon completion, the power plant is expected to last for 100 years and will be the first mini hydropower project in Quezon province. REDC currently has five more mini-hydropower projects in Quezon alone that are in the pipeline, and will break ground on its second Quezon project next month.

    "This is one of the projects that we're building to benefit the local community as we will provide clean, reliable, and sustainable energy. This project will directly address the province's overdependence on coal power plants as its primary energy source," said Dexter Y. Tiu, REDC chief executive. The Upper Labayat hydropower plant's renewable-power output through a 2.5-kilometer transmission line is expected to qualify for Feed-in-Tariff (FiT) incentives and get dispatched in the electricity spot market at P5.90 per kilowatt hour (Kwh) under the FiT rate for hydro power.

    The hydro project is in partnership with Frabelle and TSP Marine Group, a giant food and fishing conglomerate that recently ventured into the renewables business through a consortium with Markham Resources to build mini hydroelectric plants covering Luzon and other areas in Mindanao.

    Frabelle Group's president Francisco Tiu Laurel said the project will not only provide power needs in the local community, but can, one day, supply their own factories and shipyards. "The hydropower project, once constructed, will generate more energy than our own factory requirements and, at the same time, stabilize the energy needs of the communities here," he said referring to the municipality of Real, Quezon, where the project is located.

    PEHC also makes strategic acquisition and investment in existing and new hydropower plants through renewable energy subsidiary Repower Energy Development Corp. (REDC)

    Its current projects include over 100 megawatts (MW) of mini-hydropower projects with a capital cost of over $400 million.

    REDC has recently acquired three of the Philippines' oldest operating plants, Philippine Power and Development Company which started in 1927.

    "We will continue to search for more viable mini-hydropower projects and develop more water systems, aiming to be a leader in the renewable energy industry and supporting the United Nations' Sustainable Development Goal 6 (SDG6)," Tiu said.

    PEHC also invests in community development and livelihood programs through implementation of its social responsibility and nonprofit initiatives.

    "We are also committed to the preservation of Philippine rain forests. We are coordinating with local authorities to ensure protection of our remaining rain forests from illegal loggers and are implementing tree planting activities," Tiu said.



  • May 10, 2016 - Hydro plant planned in Quezon

    REPOWER Energy Development Corp. has partnered with food and fishing conglomerate Frabelle and TSP Marine Group to embark on a 3-megawatt (MW) run-of-river mini-hydropower plant in Upper Labayat in Quezon province.

    "This is one of the projects that we're building to benefit the local community as we will provide clean, reliable, and sustainable energy. This project will directly address the province's overdependence on coal power plants as its primary energy source," said Repower Chief Executive Officer Dexter Y. Tiu in a press release on Monday.

    The high-pressure hydropower plant station will use water from the Upper Labayat stream and produce power for the community. Its construction period is expected to be about two years. It is set to begin operating in the fourth quarter of 2018.

    Frabelle President Francisco T. Laurel said the project would not only provide the power needs of the local community but could also supply its own factories and shipyards in the future.

    "The hydropower project, once constructed, will generate more energy than our own factory requirements and at the same time stabilize the energy needs of the communities here," he said about the project's location ­ -- the municipality of Real in Quezon.

    Frabelle recently ventured into the renewable energy business via a consortium with Markham Resources Corp. to build mini-hydroelectric plants that are expected to cater to consumers in Luzon and areas in Mindanao.

    The mini-hydro facility will be built in the upper cascade of the Labayat River, while the power station will be in Barangay Maragondon in Real. The company said the plant's installed capacity would generate 16 gigawatt-hours of clean and renewable energy yearly and could supply the power needs of 20,000 households. It described the project as one of its "most efficient" power plants.

    The company is looking to qualify under the country's feed-in-tariff scheme and get dispatched in the electricity spot market with a rate of P5.90 per kilowatt-hour. The plant's output is seen to reach the market through a 2.5-kilometer transmission line.

    "Environmental mitigation measures such as revitalization of river banks, preservation of grassland along the river and other steps to ensure environmental sustainability around the domain will be taken into account in the construction of the power plant," Mr. Tiu said.

    Repower expects the facility to last for a hundred years. It has five other mini-hydropower projects in the pipeline in Quezon, one of which is scheduled to break ground next month.


  • May 10, 2016 - REDC, Frabelle break ground on Labayat mini-hydro plant

    Repower Energy Development Corp. (REDC) broke ground for a run-of-river hydropower plant project in Upper Labayat, Quezon Province in partnership with the Frabelle and TSP Marine Group, a giant food and fishing conglomerate which recently ventured into the renewables business through a consortium with Markham Resources to build mini hydroelectric plants that will cover Luzon and other areas in Mindanao.

    REDC is the mini hydropower business of local investment holding company Pure Energy Holdings Corporation (PEHC).

    "This is one of the projects that we're building to benefit the local community as we will provide clean, reliable, and sustainable energy. This project will directly address the province's overdependence on coal power plants as its primary energy source," REDC chief executive Dexter Y. Tiu said.

    The high-pressure hydropower plant station will use water from the Upper Labayat River and produce power for the local community. The plant is scheduled to begin operations in the fourth quarter of 2018, after a construction period of about two years.

    Frabelle Group's president, Francisco Tiu Laurel, whose company just recently entered into the power industry business, said that the project will not only provide power needs in the local community but can one day supply their own factories and shipyards.

    "The hydropower project, once constructed, will generate more energy than our own factory requirements and at the same time stabilize the energy needs of the communities," he said.

    The hydro facility will be built in the upper cascade of the Labayat River, while the power station itself will be built at Barangay Maragondon, Municipality of Real, Quezon. With an installed capacity of 3 megawatts (MW), the power plant will generate over 16 gigawatt (GWh) of clean and renewable energy annually, which is equivalent to the consumption of about 20,000 households. This makes the Upper Labayat mini hydropower plant one of the most efficient power plants constructed by REDC.

    The Upper Labayat hydropower plant's renewable power output through a 2.5-kilometer transmission line is expected to qualify for Feed-in-Tariff (FiT) incentives and get dispatched in the electricity spot market at P5.90 per kilowatt-hour (kWh) under the FiT rate for hydropower.


  • May 10, 2016 - Repower, Frabelle break ground for 3-MW mini-hydropower plant

    Repower Energy Development Corp. and Frabelle and TSP Marine Group broke ground for a run-of-river hydropower plant project with a capacity of 3 megawatts MW, in Upper Labayat, Quezon Province.

    "This is one of the projects that we're building to benefit the local community as we will provide clean, reliable, and sustainable energy. This project will directly address the province's over-dependence on coal power plants as its primary energy source," Dexter Y. Tiu, CEO of REDC, said in a statement on Tuesday.

    The hydro facility will be constructed in the upper cascade of the Labayat River, while the power station will be built in Barangay Maragondon, Real, Quezon.

    "The hydropower project, once constructed, will generate more energy than our own factory requirements and at the same time stabilize the energy needs of the communities here," Francisco Tiu Laurel, president of Frabelle Group, said.

    The plant is expected to operate in the fourth quarter of 2018.

    "The power plant will generate over 16 gigawatts of clean and renewable energy annually, which is equivalent to the consumption of around 20,000 households," Repower and Frabelle Group noted.

    The renewable power output is expected to qualify for feed-in-tariff (FIT) incentives and get dispatched in the electricity spot market at P5.90 per kilowatt hour under the FIT rate for hydro power.

    FIT is an energy supply policy that promotes investment acceleration in renewable energy.

    Repower is the mini hydropower business of Pure Energy Holdings Corp.

    Frabelle and TSP Marine Group is a food and fishing company that diversified in renewable business.


  • April 18, 2016 - Pure Energy Holdings to build bulk water plants

    MANILA, Philippines - Local investment holding firm Pure Energy Holdings Corp. (PEHC) has committed to put up low-impact renewable energy and gravitational designed bulk water supply plants across the country to help mitigate water risks and meet the targets of the Philippines for sustainable development, especially in the midst of the El Niño phenomenon.

    PEHC CEO Dexter Tiu said the country lacks a cohesive and sustainable blueprint to overcome the looming threat of severe water shortage by 2040, according to a study by World Resources Institute (WRI).

    "We need to address today's water problems by investing in renewables and engaging in studies for water use especially at local and national levels," he said.

    Through its subsidiary, Tubig Pilipinas, PEHC provides clean and sustainable potable water supply across major cities and towns in Luzon, Visayas and Mindanao.

    It has several water systems and projects in development in Trece Martires, Sual, Labrador, Cadiz, Bacolod, several around the One Negros region and in Mindanao.

    The firm implemented run-of-river hydroelectric power plants as an alternative to traditional dam facilities to ensure lesser impact on freshwater dependency, carbon dioxide emission and aquatic ecosystem.

    "In servicing potable water and clean energy in the Philippines, our technology does not destroy waterways nor disrupt the natural flow of water," Tiu said.

    PEHC also makes strategic acquisition and investment in existing and new hydropower plants through renewable energy subsidiary Repower Energy Development Corp. (REDC)

    Its current projects include over 100 megawatts (MW) of mini-hydropower projects with a capital cost of over $400 million.

    REDC has recently acquired three of the Philippines' oldest operating plants, Philippine Power and Development Company which started in 1927.

    "We will continue to search for more viable mini-hydropower projects and develop more water systems, aiming to be a leader in the renewable energy industry and supporting the United Nations' Sustainable Development Goal 6 (SDG6)," Tiu said.

    PEHC also invests in community development and livelihood programs through implementation of its social responsibility and nonprofit initiatives.

    "We are also committed to the preservation of Philippine rain forests. We are coordinating with local authorities to ensure protection of our remaining rain forests from illegal loggers and are implementing tree planting activities," Tiu said.



  • April 6, 2016 - Power, water rates to go up this month

    * Video courtesy of ABS-CBN News

    Starting this month, Manila Water will impose an 11-centavo per cubic meter hike, while Maynilad has a 5-centavo adjustment. Meralco has also earlier announced a 22-centavo per kilowatt hour spike in April. - The World Tonight, ANC, April 6, 2016



  • April 6, 2016 - Meralco to increase power rates by P0.22/kWh

    Metro Manila (CNN Philippines) - In addition to higher water rates and LPG prices this April, power distributor Meralco announced on Wednesday (April 6) that power rates will increase by P0.22/kWh (per kilowatt-hour) this month.

    This means a typical household consuming 200 kWh can expect an additional P44 to their electricity bill.

    Meralco explained the hike was mainly driven by a P0.10/kWh-increase in generation charge and a higher Feed-in Tariff Allowance (FIT-All), a fee paid to renewable energy developers.

    According to Meralco, the increase in generation charge was caused by higher charges from the Wholesale Electricity Spot Market (WESM), which went up by P2.23/kWh. Peak demand in the Luzon Grid increased by more than 500 megawatts from February to March with the approach of summer.

    Meanwhile, the FIT-All will start to reflect a higher charge of P0.12/kWh beginning April, in compliance with the provisional approval issued by the Energy Regulatory Commission (ERC) last February.

    "Costs of energy sourced from the Power Supply Agreements (PSAs) and Independent Power Producers (IPPs) registered slight reductions of P0.02 and P0.01/kWh, respectively," Meralco said in a statement.

    "These reductions in the PSA and IPP charges were mainly due to the higher dispatch of a number of plants under them, along with the appreciation of the peso in March."

    Other bill adjustments this April include a slight increase of P0.01/kWh for the transmission charge and an increase of P0.03/kWh for taxes and other charges.

    Meralco reiterated that it does not earn from the pass-through charges, such as the generation and transmission charges, which go to power suppliers and to the National Grid Corporation of the Philippines (NGCP).

    The power distributor decreased rates in March because of a lower generation charge, and to a lesser extent, the lower cost of fuel.

    Power-saving tips
    Last month, Meralco spokesperson Joe Zaldariagga that power rates may go up this summer.

    The power distributor shared energy efficiency tips, since the summer season normally drives people to use more electricity:

    Unplug appliances that are not in use, as appliances in standby mode still consume electricity.
    Keep appliances clean and properly maintained to ensure they work efficiently - poorly maintained and dirty appliances consume more electricity.
    When buying new lights and appliances, it may be a good idea to consider the LED and inverter types. They might be more expensive, but they are more energy-efficient, and will ensure significant savings on electricity costs in the long run.



  • March 23, 2016 - P900M bulk water contract inked

    Officials of Bacolod City Water District and the consortium Mactan Rock Industries, Inc., TGV Builders Inc. and Tubig Pilipinas Group, Inc. signed a 25-year contract for the implementation of the approximately P900 million worth of bulk water supply project for Bacolod City last night.

    The signing held at the Baciwa Board room at about 8 p.m. yesterday in time with the observance of World Water Day, was witnessed by Baciwa chairman Ma. Aida Torre, Director David Villanueva, Assistant General Manager for Operations Genelyn Gemora, Baciwa Union president Claudio Salmo and Bacolod Mayor Monico Puentevella.

    The 25-year contract was signed by Baciwa general manager Mario Macatangay together with other principal signatories, Simplicio Belisario and his son, Conrado Belisario, president and corporate secretary of TGV Builder, respectively; Antonio Carmelo Tompar of Mactan Rock Industries and Ryan Wesley Yapkianwee of Tubig Pilipinas.

    Torre said that after the signing of the contract they will issue the consortium a notice to proceed so they can start the project already.

    She said the three companies will form a joint venture under a new name Bacolod Bulk Water, Inc. After they signed the deed of undertaking last month, the three companies have committed to come up with the registration of the joint venture company within three months or even sooner, and this incorporation is stipulated in their contract with Baciwa, she said.

    Torre said they expect day one of the delivery after 18 months following the issuance of the notice to proceed, which they expect to issue as soon as possible.

    She said they know that water supply in Bacolod is inadequate but they are looking forward to the start of the bulk water supply project and given a little time, they will be able to address the problem.

    Tompar of Mactan Rock Industries said they have 18 months to deliver water supply and they have already made representation with the National Water Resources Board insofar as their water rights permit is concerned.

    Tompar said they are the first bulk water supplier in the country and have long term experience in the business. They also hope to deliver better service in the implementation of the project, he said.

    The bulk water supply project requires the supplier to provide Baciwa with potable water sourced from springs or surface water only at a minimum volume of 10,000 cubic meters to a maximum of 15,000 cubic meters per day per injection point for the first year with increasing volume over the contract period.

    It has an Approved Budget Capital at a fixed price of P10 per cubic meter, equivalent to P54,750,000 for the first year for each injection point for 25 years.

    Macatangay said the bid price offered by the consortium for injection point 1 per cubic meter is P8.85 and P9.85 for injection point 2, which is below the ceiling of Baciwa.

    The two injection points are located at the ground reservoir in Hda. Loygoy, Brgy. Granada for injection point 1 with 9,842 cubic, he said.

    Meanwhile, Puentevella said he is very positive that the project of Baciwa will address the water problem in Bacolod. This will boost water supply and would be a big help in enticing investors to the city, he said.

    He congratulated Baciwa for the project and said that they are looking forward to a better water system in Bacolod City.

    Torre said that since they have already signed the contract, they can invite the Utilities Consumers Alliance of Negros and other interested parties to see all the documents since they want the public to understand what the project is all about.*CGS



  • March 12, 2016 - Investment in RE needed to meet carbon-reduction target–Repower

    THE Philippines need to invest in renewable energy (RE) to achieve its target to reduce its carbon footprint by 75 percent between 2020 and 2030.

    This was stressed by Repower Energy Development Corp. (REDC) CEO Dexter Y. Tiu as the company joins the celebration the World Sustainable Energy Day.

    REDC is an RE company utilizing breakthrough technologies for energy production, through hydropower that promote environmental sustainability.

    The Philippines, under its Intended Nationally Determined Contribution submission to the secretariat of the United Nation Framework Convention on Climate Change prior to the 21st session of the Conference of Parties (COP) held in Paris, France, last December promised to reduce carbon emission by 75 percent.

    Under COP21, 196 countries, including the Philippines, agreed on the goal to cut carbon emission, which will reduce global warming under 2° Celsius and build a carbon-free world economy in the second half of the century.

    Developed countries with existing RE plants have also committed to further investments in renewable technologies. The carbon-emission reduction target promised by the Philippines would come from the sectors of energy, transport, waste, forestry and industry.

    Environment Secretary Ramon J.P. Paje earlier said that the government is looking at the Green Climate Fund (GCF) as a vital source of support for the country to achieve its commitment.

    On the other hand, Environment Undersecretary Jonas R. Leones said massive reforestation and waste-to-energy projects are potential projects in which the government can apply for GCF funding.

    Expanding the forests and investing in waste-to-energy projects will enhance the country's carbon-emission capacity, while capturing methane to be converted into energy will reduce carbon emission, Leones said.

    To achieve its ambitious carbon emission-reduction target, Tiu said that the Philippines need more investments in RE projects.

    With the country's buoyant urban and economic growth, energy requirements grow at a rate that is difficult to fulfill, he said. REDC believes this can be addressed by increasing investments in RE to fill the gap and at the same time cut the country's carbon emissions.



  • February 22, 2016 - More RE investments needed for COP21 goals

    THE Philippines should continue to invest in renewable energy to meet the climate goals set out in the 2015 Paris Climate Conference (COP21) in which the country is a signatory.

    "We need more investments in renewable energy for the country to reach its carbon commitments," said Dexter Y. Tiu, chief executive of Repower Energy Development Corporation (REDC), as part of the company's celebration of World Sustainable Energy Days.

    REDC is a renewable energy company utilizing breakthrough technologies for energy production through hydropower that promote environmental sustainability.

    Under COP21, 196 countries including the Philippines agreed on the goal to cut carbon emissions in order to keep global warming this century below 2 degrees Celsius and build a carbon-free world economy in the second half of the century.

    Developed countries with existing renewable energy plants have also committed to further investments in renewable technologies.

    With the Philippines' buoyant urban and economic growth, energy requirements are growing at a rate that is difficult to fulfill, REDC noted. This can be solved by increasing investments in renewable energy to fill the gap and at the same time cut the country's carbon emissions, it said.

    In 2008, the government enacted the Renewable Energy Act to promote renewable energy, but the country is still struggling to boost the industry because investing in renewables is more costly than investing in coal and fossil fuel.

    Tiu said the debate between advocates of traditional sources of energy and renewables should not be a matter of choosing between a vibrant economy and a healthy environment.

    "Some companies in the country are now using energy from renewable sources like solar, geothermal, and hydro power plants. For them, it's not just a strategy to sustain future energy needs but also a business policy."

    The Philippines has a strong potential capacity in renewable energy, which makes up a significant portion of the 12,128 megawatt daily energy generation, or a minimum of 30 percent of the country's total energy source, indicating great potential for growth.

    As part of its effort to accelerate its investments in renewables, REDC recently acquired Philippine Power and Development Company (Philpodeco), owner of the country's three oldest operating mini-hydropower plants in Laguna, to increase the plants' output after a considerable P300 million overhaul.



  • January 10, 2016 - Meralco dips into mini-hydro development

    MANILA, Philippines – Power distributor Manila Electric Co. (Meralco) is taking control of a joint venture with Repower Energy Development Corp. (REDC) in renewable energy (RE) development.

    In a disclosure to the Philippine Stock Exchange, Meralco said the agreement with REDC would entail the establishment of a joint venture company that would pursue and undertake the development of various hydroelectric power projects.

    Meralco will have an "equity stake equivalent to 50 percent minus one share of the authorized capital stock of the proposed JVC".

    The partnership marks Meralco's foray into mini-hydropower development.

    The partners will hold a series of ground breaking ceremonies for mini-hydropower plants in select regions starting in the first half of the year.

    REDC has over 100 megawatts (MW) of mini-hydropower projects clustered in Quezon, Camarines Sur, Bukidnon, and other provinces under development with investments worth $400 million.

    The joint venture will have its first set of hydropower plants operational by 2019. These facilities will avail of the feed-in-tariff (FIT) scheme mandated by the Renewable Energy Act of 2008.

    The FIT system entitles power developers to receive a set of incentives for a period of time to build RE projects.

    Developers of run-of-river hydro projects, on the other hand, are entitled to a FIT allowance rate of P5.90 per kilowatt-hour.



  • January 9, 2016 - Meralco, Repower to form new hydropower company

    DOMINANT power distributor Manila Electric Co. (Meralco) signed on Wednesday a shareholders' agreement with Repower Energy Development Corp. to form a joint-venture company to the develop of various hydroelectric power projects in the country.

    In a disclosure to the Philippine Stock Exchange, Meralco said under the deal, the company will have an equity stake of 50 percent minus one share of the authorized capital stock of the proposed joint venture firm.

    It will be recalled that Meralco and Repower have earlier agreed to form the joint venture for the development of mini hydropower plants across the country.

    It will be Meralco's first foray into mini-hydropower development, a renewable energy source.

    Founded in 1891, Meralco is the Philippines' largest distributor of electric power. It is Metro Manila's only electric power distributor and holds the power distribution franchise for 22 cities and 89 municipalities, including the whole of the National Capital Region, as well as the provinces of Bulacan, Cavite, Rizal, Batangas, Laguna, and Quezon.

    Meralco (PSE:MER and MERB) is list ed in the Philippine Stock Exchange and is part of the exchange index (PSEi).

    Meanwhile, Repower was established in 2013 to address the country's call for additional investments in the renewable energy sector, with the goal of setting up and operating hydropower plants all over the country.

    The firm is focused on expanding its hydropower projects in target areas in the country, using the "clustered approach method" done by building several hydropower projects in a particular area, "resulting in increased energy capacity output, utilizing the same transmission lines, infrastructure developments, and other fixed costs, and economies of scale."

    To date, the firm has over 100 megawatts (MW) of mini-hydropower projects clustered in Quezon, Camarines Sur, Bukidnon, and other provinces under development, representing a total investment of $400 million.



  • January 8, 2016 - Meralco, Repower seal joint venture deal

    The Manila Electric Co. (Meralco) and Repower Energy Development Corp. have secured the terms of a joint venture deal to build hydropower plants.

    "The company signed today, January 7,2016, the joint venture agreement (JVA) and shareholders' agreement (SHA) with Repower Energy Development Corp.," Meralco told the stock exchange on Friday.

    The deal covers the establishment of a joint venture company for developing hydroelectric power projects.

    The SHA obliges Meralco to have an equity stake equivalent to 50 percent, minus one share, of the authorized capital stock of the proposed company.

    Repower is currently developing over 100 megawatts (MW) of mini-hydropower projects in Quezon, Camarines Sur, Bukidnon, and other provinces.

    "This represents a $400-million investment in mini-hydropower development," Meralco said last month.

    The joint venture will take advantage of the feed-in-tariff (FIT) scheme – as spelled out in the Renewable Energy Act of 2008 – with the FIT rate of P5.9 per kilowatt hour guaranteed by the government for 20 years.



  • January 8, 2016 - Meralco forms mini-hydro JV with Repower

    MANILA Electric Co. (Meralco) and Repower Energy Development Corp. have agreed to put up a joint venture company that will pursue and develop various hydro electric power projects, the utility told the stock exchange.

    It also disclosed that the two companies have signed a shareholders' agreement in which Meralco will have an "equity stake equivalent to fifty percent minus one share (50%-1 share) of the authorized capital stock" of the joint venture company.

    The deal follows the companies' agreement in December last year to build and develop mini-hydropower plants, which Repower said represented an investment of $400 million.

    Repower said that with the partnership, Meralco would be able to provide millions of its customers with green, sustainable energy by harnessing the country's hydro electric power capabilities.

    Repower has over 100 megawatts of mini-hydropower projects being developed in Quezon, Camarines Sur, Bukidnon and other provinces. Its Rangas mini-hydropower project in Camarines Sur broke ground early this month. The company is set to start in the first quarter of 2016 another project in Labayat, Quezon.

    In November, Repower acquired Philippine Power and Development Co., owner of the country's three oldest operating mini-hydropower plants. These plants in Laguna sell their power output to Meralco, the country's largest electricity distributor.

    Meralco's controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by Philippine Long Distance Telephone Co. (PLDT).

    Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls.



  • December 20, 2015 - Meralco inks JV with Repower Energy to develop hydropower

    THE Manila Electric Co. (Meralco) aims to provide millions of customers with green, sustainable energy as it partners with Repower Energy Development Corp. (REDC) in harnessing the country's hydroelectric power capabilities.

    The two companies signed a joint-venture agreement to build and develop mini-hydropower plants using run-of-river resources, for renewable and efficient energy production while minimizing environmental impact.

    REDC has over 100 megawatt of mini-hydropower projects under development clustered in Quezon, Camarines Sur, Bukidnon and other provinces. This represents a $400-million investment in mini-hydropower development. Early this month, REDC broke ground in the Rangas mini-hydropower project in Camarines Sur. Its next ground breaking is the Upper Labayat project in Quezon, scheduled for the first quarter of 2016. REDC, through its subsidiary Philippine Power and Development Co., has three operating mini-hydropower plants all in Laguna. The operating plants sell the power output to Meralco.

    "Our wide experience in working with sustainable-energy sources has allowed us to maximize its potential through our long-term approach of using best of breed international technologies combined with local excellence in deployments" said Dexter Y. Tiu, REDC chief executive.

    This joint venture with Meralco for mini-hydropower projects will use the feed-in-tariff scheme mandated by the Renewable Energy Act of 2008, where the rate is guaranteed by the government for 20 years at P5.90 per kiloWatt-hour.

    By partnering with REDC, the initiative marks Meralco's first foray into mini-hydropower development, a renewable-energy source set to bring forth more than $40 million in annual savings while reducing the country's carbon-dioxide emissions. The power generator and distributor sees the Philippines's abundant water resources as a key to giving millions of consumers more affordable access to electricity that is clean, sustainable and renewable.

    The joint venture will lead to a series of project groundbreaking of mini-hydropower plants starting from the first half of 2016 in select regions, following REDC's vision for its clustered development strategy. The clustered system uses the same transmission lines, infrastructure development, and other fixed costs that result in economies of scale.

    Heeding the government's call for more renewable- energy sources, REDC excels through operational efficiency, focused redevelopment and the introduction of the latest European technology for energy-production optimization. This joint venture's first set of hydropower plants will be operational by 2019.

    For its technical expertise, REDC has, likewise, tapped Manny M. Vergel III of Vergel Consult, the country's only Filipino World Bank consultant on mini-hydropower plants, to pursue its projects. Vergel, who is often regarded as "The Father of Mini-hydropower in the Philippines," has brought more than a dozen mini-hydropower plants to operation from inception.

    REDC is a subsidiary of Pure Energy Holdings Corp.



  • December 20, 2015 - Meralco partners with Repower Energy for hydropower plants

    Repower Energy Development Corporation has over 100 megawatts (MW) of mini-hydropower projects in Quezon, Camarines Sur, Bukidnon, and other provinces.

    MANILA, Philippines — The Manila Electric Company (Meralco) partnered with Repower Energy Development Corporation (REDC) to build and to develop mini-hydropower plants in some parts of the Philippines, which will be operational by 2019.

    REDC said these mini-hydropower plants will use run-of-river resources "for renewable and efficient energy production while minimizing environmental impact."

    REDC has over 100 megawatts (MW) of mini-hydropower projects in Quezon, Camarines Sur, Bukidnon, and other provinces under development. This represents a $400-million investment in mini-hydropower development.

    Early this December, REDC broke ground in the Rangas mini-hydropower project in Camarines Sur. It is scheduled to start the construction of the Upper Labayat project in Quezon in the first quarter of 2016.

    REDC, through its subsidiary Philippine Power and Development Company (Philpodeco), has 3 operating mini-hydropower plants in Laguna. The operating plants in Laguna sell the power output to Meralco, REDC said.

    "Our wide experience in working with sustainable energy sources has allowed us to maximize its potential through our long-term approach of using best of breed international technologies combined with local excellence in deployments," REDC CEO Dexter Y. Tiu said in a statement.

    Its joint venture with Meralco for mini-hydropower projects will avail of the feed-in-tariff (FIT) scheme mandated by the Renewable Energy Act of 2008, where the rate is guaranteed by the government for 20 years at P5.9 ($0.12) per kilowatt hour.

    "By partnering with REDC, the initiative marks Meralco's first foray into mini-hydropower development, a renewable energy source set to bring forth more than $40-million in annual savings, while reducing the country's carbon dioxide emissions," REDC said.

    The power generator and distributor said it sees the Philippine's abundant water resources as key to providing consumers "more affordable access to electricity."

    REDC said its partnership with Meralco will lead to a series of project ground breaking of mini-hydropower plants starting from the first half of 2016 in select regions.

    The clustered system uses the same transmission lines, infrastructure development, and other fixed costs that result in economies of scale.

    This joint venture's first set of hydropower plants will be operational by 2019.

    REDC said it has tapped Manny M. Vergel III of Vergel Consult — the country's only Filipino World Bank consultant on mini-hydropower plants — to pursue its projects.

    Manny M. Vergel III, who is regarded as the father of mini hydropower in the Philippines, brought more than a dozen mini-hydropower plants to operation.

    REDC is a subsidiary of Pure Energy Holdings Corporation.



  • December 20, 2015 - Meralco partners with Repower Energy for mini-hydropower

    MANILA ELECTRIC Co. (Meralco) has signed a joint venture agreement with Repower Energy Development Corp. (REDC) to build and develop mini-hydropower plants, representing its first foray into mini-hydropower development.

    In a statement released over the weekend, REDC said the project, which will be using run-of-river resources, is expected to bring $40 million in annual savings while reducing the country's carbon dioxide emissions.

    REDC said the venture with Meralco will avail of the feed-in-tariff scheme mandated by the Renewable Energy Act of 2008, which offers a guaranteed payments on a fixed per kilowatt-hour for electricity from wind, solar, ocean, hydropower and biomass energy sources. The government-guaranteed rate for 20 years is P5.90 per kilowatt-hour.

    Dexter Y. Tiu, REDC chief executive officer, said the company's wide experience in working with sustainable energy sources had allowed it to maximize their potential through a long-term approach of "using best of breed international technologies combined with local excellence in deployments."

    REDC said it has over 100 megawatts (MW) of mini-hydropower projects being developed in Quezon, Camarines Sur, Bukidnon and other provinces, which represents an investment of $400 million.

    Its Rangas mini-hydropower project in Camarines Sur broke ground earlier this month. The company is set to start another project in Labayat, Quezon in the first quarter of 2016.

    Last month, REDC acquired Philippine Power and Development Co., owner of the country's three oldest operating mini-hydropower plants. These plants in Laguna sell their power output to Meralco, the country's largest electricity distributor.

    REDC said the joint venture with Meralco paves the way for several mini-hydropower projects breaking ground starting in the first half of 2016 in several regions under the company's "clustered development strategy." The strategy uses the same transmission lines, infrastructure development, and other fixed costs that result in economies of scale, it said.

    REDC, a subsidiary of Pure Energy Holdings Corp., said it had tapped World Bank consultant Manny M. Vergel III of Vergel Consult for the projects. It said Mr. Vergel had brought more than a dozen mini-hydropower plants from inception to operation.

    Meralco is keen on entering into renewable energy projects and has been looking for opportunities in solar and wind resources.

    Last week, Oscar S. Reyes, Meralco president and chief executive officer, said the company was continuing to look at the renewables market and would first focus on a solar project.

    He declined to put a figure as initial investment but placed an "aspirational" target capacity of up to 100 MW under a new entity that will be called "MSpectrum."

    He said the company would look into "supporting rooftop solar" within Meralco's franchise area "without prejudice to going into other areas where there is an opportunity." The first target customers, he said, would be big commercial and industrial companies.

    Meralco provides power to more than 5.5 million customer accounts in 34 cities and 77 municipalities. The franchise area includes Metro Manila, the provinces of Rizal, Cavite and Bulacan, and parts of the provinces of Pampanga, Batangas, Laguna and Quezon.

    "All our projects will require financing... all our projects are joint ventures," Mr. Reyes said. "I think we're looking at 70-30% equity for all of these projects."

    "I think the markets are still good. But markets will change over time especially as the [US Federal Reserve] has started its interest rate increase. We'll just have to watch how moderate or how fast those interest rate changes will be because that will reflect on the cost financing," he said.

    Mr. Reyes said the company's investments in renewables would be separate from its capital expenditure next year of P17.5 billion to P18 billion, which is largely for Meralco. The allocation, which stays in the range that the company previously disclosed, does not include outlay for power generation, he said.

    Meralco's controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by Philippine Long Distance Telephone Co. (PLDT).

    Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls.



  • December 07, 2015 - Rangas prepares CamSur site for mini-hydropower plant

    RANGAS Hydropower Corp. broke ground on Friday for its 1.5-megawatt (MW) mini-hydropower power plant in Camarines Sur. The members of the consortium are Mega Renewable Power Development, Viscal Development Corp., Brightvale Ventures, Greentech Asia, Ormin Power and Repower Energy Development Corp. (REDC).

    The power project, in the municipality of Goa will produce 10 gigawatt-hours of energy annually, allowing the franchise area of Camarines Sur IV Electric Cooperative (Casureco IV) to gain direct access to clean and sustainable energy. The electric cooperative will purchase the power from the consortium at P5.75 per kilowatt-hour (kWh), lower than the government regulated feed-in-tariff (FiT) rate of P5.90 per kWh.

    "We have committed to reinvest part of our profit from the 1.5-MW Rangas mini-hydropower plant back to said electric cooperative. With this, Casureco IV can improve their services to their consumers," REDC Chief Executive Dexter Tiu said. Casureco IV provides service power to nine municipalities with 258 barangays in the Camarines Sur's Fourth District.

    "We have worked on this project since 2009, the permitting process takes forever. It's about time we commence construction and start generating power in the next 30 months," Mega Renewable Power Development Chairman Benson Lao said.

    "This power-generation project will benefit the consumers of Casureco IV. While its output may not be enough for the whole franchise area, it will provide for some reliability in cases when the National Grid fails," Lao said.



  • December 06, 2015 - Consortium building mini-hydro plant in Camarines Sur

    A consortium composed of six companies will build a 1.5-megawatt mini-hydro power plant in Camarines Sur due for completion by 2018.

    Mega Renewable Power Development, Viscal Development Corp., Brightvale Ventures, Greentech Asia, Ormin Power and Repower Energy Development Corp. broke ground on Friday for the Rangas mini hydro power project in the municipality of Goa, a group statement said.

    The CamSur-based project of the consortium is set to produce 10 gigawatt-hours of energy annually, allowing the franchise area of Camarines Sur IV Electric Cooperative IV to gain direct access to clean and sustainable energy.

    The mini-hydropower plant will generate savings for Casureco IV as it will purchase electricity directly from the consortium at a reduced rate of P5.75 per kilowatt-hour compared with the government regulated feed-in tariff rate of P5.90 per kWh for hydro projects.

    "As it is Repower's mission to address the power outages around the country by supplying renewable energy, we have committed to reinvest part of our profit from the 1.5-MW Rangas mini hydropower plant back to said electric cooperative. With this, Casureco IV can improve their services to their consumers." said Repower Energy chief executive Dexter Tiu.

    Casureco IV is officially registered and categorized as a large electric cooperative by the National Electrification Administration. The cooperative provides service power to nine municipalities with 258 barangays in the Camarines Sur's fourth district.

    "We have worked on this project since 2009, the permitting process takes forever. It's about time we commence construction and start generating power in the next 30 months," Mega Renewable chairman Benson Lao said.

    "This power generation project will benefit the consumers of Casureco IV. While its output may not be enough for the whole franchise area, it will provide for some reliability in cases when the national grid fails," Lao said.

    Lao, Jack Gaisano of Viscal Development Corp., Jolly Ting of Ormin Power, Keith Ng of Brightvale Ventures, James Chua of Greentech Asia and Dexter Tiu and Chris Tiu of Repower Energy attended the groundbreaking ceremonies.

    Repower Energy, meanwhile, recently acquired Philippine Power and Development Co., owner of the country's three oldest operating mini-hydropower plants, in a bid to expand the output of the stations.

    The company is allocating around P300 million for the rehabilitation, which includes renewal of the structural and civil works of the Balugbog, Calibato and Palapakin hydro plants. It plans to upgrade the Laguna-based low-impact hydro plants, with the latest run-of-river systems technology.



  • December 06, 2015 - Mini hydro plant eyed for CamSur

    A CONSORTIUM of renewable energy firms will build a mini hydropower plant with a target capacity of 1.5 megawatts (MW) in Goa, Camarines Sur.

    The proposed hydropower plant is a project of Mega Renewable Power Development, Viscal Development Corp., Brightvale Ventures, Greentech Asia, Ormin Power, and Repower Energy Development Corp. (REDC).

    The plant is expected to produce 10 gigawatt-hours of energy annually, which would allow the franchise area of Camarines Sur IV Electric Cooperative (Casureco IV) to gain access to clean and sustainable energy.

    Casureco IV will purchase power directly from the consortium at a reduced rate of P5.75 per kilowatt hour (kWh), which is lower than the government regulated feed-in tariff (FIT) rate of 5.90/kWh.

    The project will allow Casureco IV improve services to its consumers, said REDC chief executive Dexter Tiu.

    "As it is Repower's mission to address the power outages around the country by supplying renewable energy, we have committed to reinvest part of our profit from the 1.5 MW Rangas mini hydropower plant back to said electric cooperative," he said.

    Casureco IV is officially registered and categorized as a large electric cooperative by the National Electrification Administration (NEA).

    The cooperative provides service power to nine municipalities with 258 barangays in Camarines Sur's fourth district.

    Benson Lao, chairman of Mega Renewable Power Development, said they have been working on the project since 2009 but "the permitting process takes forever."

    "It's about time we commence construction and start generating power in the next 30 months," said Lao.

    "While its output may not be enough for the whole franchise area, it will provide for some reliability in cases when the national grid fails," he added.

    Completion of the Rangas mini hydropower plant is scheduled in 2018.



  • November 29, 2015 - Repower Energy completes acquisition of mini-hydro plants

    MANILA, Philippines - Local renewable energy developer Repower Energy Development Corp. (REDC) has acquired the country's three oldest operating mini-hydropower plants for P300 million.

    The company led by businessman Dexter Tiu completed the acquisition after the takeover of Philippine Power and Development Co. (Philpodeco).

    Following the acquisition, REDC said it would upgrade these plants located in Balugbog, Calibato and Palapakin, all in Laguna, with the latest run-of-river systems technology.

    These enhancements will increase the current output of the Balugbog, Calibato and Palapakin hydro plants by more than four-fold, or generating over 11 Gigawatt-hours (GWh) of clean, renewable energy annually.

    "The beauty of these plants is that you know that the system has been operating for the last 88 years, and with the current hydrology study completed, it will still be productive for the next 100. The fact that these plants were not efficiently run by the former management, using only band aid solutions to mitigate problems, we are going to change all that through investment in technology and infrastructure," REDC CEO Dexter Y. Tiu said.

    These projects were recommended for structural and civil works upgrades by Manny V. Vergel III of Vergel3 Consult Inc., the only Filipino World Bank consultant on mini-hydropower.

    Based on Vergel's study on the hydrology of the region, the existing water resources can support bigger capacity plants through the implementation of advanced technology and upgrading of the civil works.

    Established in 1927, Philpodeco is the pioneer and longest running operator of mini-hydropower plants in the country.

    Before World War II, the company founded by the Americans and some Filipinos had already put up four hydro plants in Laguna and purchased the Sta. Cruz and Sto. Tomas electric plants, supplying electricity to the municipalities of Majayjay, Magdalena, Sta. Cruz, Pila, Victoria, Bay, Los Baños, Calamba and Sto. Tomas, Batangas.

    During the 60's, Philpodeco used to serve 39 percent of Laguna, generating 12 million kilowatt hours (kWh) or 70 percent of the capacity produced by its plants while the remaining 30 percent was purchased from Botocan and the National Power Corp.

    Philpodeco continued to operate these three plants which have been supplying bulk power to Meralco since July 1, 1983.

    REDC said the takeover of Philpodeco's hydro plants is just one of its initiatives to promote environmentally, friendly renewable energy generation.

    Aside from Laguna, the RE firm is also developing over 50 megawatts of mini-hydropower plants in the provinces of Quezon, Bukidnon, and Camarines Sur.

    Groundbreaking of these greenfield plants are scheduled within months of each other, with the first one scheduled next week.



  • November 28, 2015 - Repower Energy Development Corp. acquires Philpodeco

    To deliver more than 4-fold increase in renewable energy production.

    Repower Energy Development Corporation (REDC) has acquired Philippine Power and Development Company (Philpodeco), owner of the country's three oldest operating mini-hydropower plants.

    With the acquisition, REDC is looking to multiply these plants' output after a P300-million overhaul, the company said in a statement.

    Investing millions for the thorough renewal of the structural and civil works of the Balugbog, Calibato and Palapakin hydro plants was recommended by Manny V. Vergel III of Vergel3 Consult Inc., the only Filipino World Bank consultant on mini-hydropower.

    According to his comprehensive study on the hydrology of the region, the existing water resources can support bigger capacity plants through the implementation of advanced technology and upgrading of the civil works.

    REDC will upgrade these Laguna-based low-impact hydro plants, with the latest run-of-river systems technology. Such systems basically generate energy by utilizing water in a reliable and controlled manner.

    This advanced system, among other deployments increases the height of the existing weirs, which raise the water level and ensure constant water supply, minimizing the hydro plants' impact on the environment.

    REDC's enhancements will increase the current output of the Balugbog, Calibato and Palapakin hydro plants by more than four-fold, or generating more than 11 Gigawatt-hours of clean, renewable energy annually.

    "The beauty of these plants is that you know that the system has been operating for the last 88 years, and with the current hydrology study completed, it will still be productive for the next 100."

    "The fact that these plants were not efficiently run by the former management, using only band-aid solutions to mitigate problems, we are going to change all that through investment in technology and infrastructure." says Dexter Y. Tiu, REDC Chief Executive.

    Established in 1927, Philpodeco is the pioneer and longest running operator of mini-hydropower plants in the Philippines.

    Before the Second World War, the company founded by the Americans and some Filipinos had already put up four hydro plants in Laguna. It purchased the Sta. Cruz and Sto. Tomas electric plants, supplying electricity to the municipalities of Majayjay, Magdalena, Sta. Cruz, Pila, Victoria, Bay, Los Baños, Calamba and Sto. Tomas, Batangas.

    During the war, Philpodeco continued its operations under the Taiwan Denki Kaisha of the Japanese Military Administration.

    During the sixties, Philpodeco, utilizing its 4 hydro plants then, served 39 percent of Laguna's people, generating 12 million kWh – 70 percent of which was produced by Philpodeco's plants, while the remaining 30 percent was purchased from Botocan and NPC.

    Philpodeco continued to supply electricity to 11 of Laguna's municipalities until the late dictator Ferdinand E. Marcos issued a presidential decree in 1983, stating that Meralco had to take over Philpodeco's distribution lines.

    Meralco could not buy the hydropower plants as the law then precluded a distributor like Meralco to be a power generator. Philpodeco continued to operate these three plants, supplying bulk power to Meralco since July 1, 1983 up to today.

    This takeover of Philpodeco's hydro plants is just one of REDC's initiatives to promote environmentally friendly renewable energy generation. Aside from Laguna, REDC is also developing more thann 50 MW of mini hydropower plants in the provinces of Quezon, Bukidnon, and Camarines Sur.

    Ground breaking of these greenfield plants are scheduled within months of each other, with the first ground breaking scheduled for next week.

    Established just two years ago while the country was grappling with inadequate energy supply, REDC has become a frontrunner in the hydro energy industry, introducing modern European technology for hydropower energy production optimization.

    REDC backs the Philippine government's call for more investments in renewable energies. Their projects promotes environmental sustainability and have a significant impact on the country's buoyant urban and economic growth.


  • November 27, 2015 - Repower Energy buys Philpodeco to boost renewable energy

    MANILA - Repower Energy Development Corporation (REDC) has acquired Philippine Power and Development Company (Philpodeco) to boost its renewable energy production.

    Philpodeco is the owner of the Balugbog, Calibato and Palapakin hydro plants, the country's three oldest operating mini-hydropower plants.

    REDC will upgrade these Laguna-based plants with the latest run-of-river systems technology.

    "Such systems basically generate energy by utilizing water in a reliable and controlled manner. This advanced system, among other deployments, increases the height of the existing weirs, which raise the water level and ensure constant water supply, minimizing the hydro plants' impact on the environment," REDC said in a statement.

    The enhancements include increasing the current output of the three hydro plants by more than four-fold, or generating over 11 gigawatt-hours of clean, renewable energy annually.

    "The beauty of these plants is that you know that the system has been operating for the last 88 years, and with the current hydrology study completed, it will still be productive for the next 100. The fact that these plants were not efficiently run by the former management, using only band aid solutions to mitigate problems, we are going to change all that through investment in technology and infrastructure," REDC chief executive Dexter Tiu said.

    Aside from Laguna, REDC is also developing over 50 megawatts of mini hydropower plants in Quezon, Bukidnon, and Camarines Sur.

Privacy Policy | Cookies Policy
Pure Energy Holdings Corporation