REDC forms hydropower subsidiary with PHP 12.5-million capital

Repower Energy Development Corporation (REDC) has approved the creation of a wholly-owned subsidiary dedicated to hydropower development, backed by a PHP 12.5-million capital subscription.

In a disclosure to the Philippine Stock Exchange dated April 24, 2026, the listed renewable energy firm said its board of directors approved the subscription to the capital stock of Kitaotao Hydropower Corporation (KHC), which will serve as a dedicated vehicle for the development and operation of hydropower projects.

KHC will be a 100-percent owned subsidiary of REDC and is intended to further the company’s existing renewable energy business.

Under the plan, REDC will subscribe to 12,500,000 shares of KHC, with a par value of PHP 1.00 per share, amounting to a total investment of PHP 12,500,000.

The subscription is conditioned on the approval by the Securities and Exchange Commission of the Application for Incorporation of Kitaotao Hydropower Corporation.

The disclosure, filed under SEC Form 17-C, was signed by Corporate Secretary Ann Margaret K. Lorenzo on April 24, 2026.

REDC, headquartered at the 3rd Floor, JTKC Centre, 2155 Don Chino Roces Avenue, Makati City, has 650,000,002 common shares outstanding registered under the Securities Regulation Code.

The move signals REDC’s continued push to expand its renewable energy portfolio, with hydropower identified as a key area for growth.