The Department of Energy (DOE) has recently granted three service contracts to Repower Energy Development Corp. (REDC), led by businessman Dexter Tiu, signaling a surge in green energy initiatives.
These contracts, disclosed in a stock exchange filing on Tuesday, are set to span 25 years and involve the establishment of three wind farms in the towns of Real and Mauban, Quezon.
Together, these projects are slated to generate 500 megawatts (MW) of renewable energy.
Repower plans to commence the construction of these wind farms later this year, with intentions to transport the wind turbines via sea routes.
This strategic move marks an expansion of Repower's clean energy portfolio, aligning with the company's commitment to sustainable energy solutions.
“Developing our wind-energy capabilities will complement our core capabilities in operating run-of-river hydropower plants, enabling REDC to continue enjoying its ongoing multi-year 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.
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