REDC acquires 95% stake in Maramag Hydropower project

REDC expands Mindanao hydropower efforts with second Pulangi River acquisition.

Philippine-based Repower Energy Development Corporation (REDC) is taking over a 95% equity stake in Maramag Hydropower Corporation (MHC), the developer of the 25 megawatt (MW) Pulangi IV project in Maramag, Province of Bukidnon.

“Our acquisition of MHC’s Pulangi project marks our second investment in the area, and a significant step in REDC’s mission to expand clean, renewable, and indigenous hydropower for Mindanao,” said REDC President Eric Roxas.

The hydropower project will again utilise the Pulangi river, downstream of the same river system used in REDC’s new 18.2 MW Pulangi plant facility located between Valencia and San Fernando in Bukidnon.

“Harnessing the Pulangi River’s potential through responsible hydropower development allows us to deliver dependable energy generation, whilst creating meaningful opportunities for the communities of Bukidnon,” Roxas said.