Repower Energy Development Corp. is acquiring Taft Hydroenergy Corp., owner of the 15.93-MW Tubig Hydropower Plant in Eastern Samar, in a P3.925-billion transaction, RenewableEnergy.ph reported.
The run-of-river facility, located along the Taft-Tubig River within Samar Island Natural Park, will become Repower Energy’s 10th operational hydropower plant and raise its operating capacity by about 45%.
The deal includes a P1.1-billion loan. Repower Energy’s share covers 520 million shares worth P1.57 billion and P440 million of the loan. Tokai Corp. and South East Energy Corp. will acquire the remaining shares.
The transaction remains subject to closing conditions, including Philippine Competition Commission clearance, lender consents, and other regulatory approvals. Repower Energy’s board approved the deal on April 13.
Full story here: Repower Energy Development Corporation to acquire 15.93-MW Tubig hydropower plant in Eastern Samar