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. — Sheldeen Joy Talavera