The Philippine Power and Development Co. has been acquired by Repower Energy Development Corp., giving REDC control of three of the country's oldest small hydropower projects.
Included in the US$18 million sale are the 528-kW Balugbog, 448-kW Palakpakiun and 75-kW Calibato plants -- all of which are located in the Philippines' Laguna region.
Each of the run-of-river plants will soon undergo modernization and expansion, potentially quadrupling their cumulative output capacity, according to REDC.
"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," REDC CEO Dexter Tiu said. "The fact is 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 investments in technology and infrastructure."
The acquisition gives REDC a portfolio of more than 50 MW-worth of small hydroelectric capacity in the Philippines, with other projects located in Quezon, Bukidnon and Camarines Sur provinces.
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