Repower snags contracts for additional wind farms
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. INQ
