REPOWER Energy Development Corp. (REDC) turned over P241,122.65 to the Dumagat Tribe of Quezon, representing the tribe’s share of the proceeds from one of the run-of-the-river hydropower plants it operates in Quezon Province.
“REDC, with 3 operating hydropower plants in Quezon Province to date, will turn over to the Dumagat tribe a much larger percentage by next year,” the company said.
“Having the Dumagat tribe financially benefit from our operations will allow them to have additional financial resources to address the needs of their communities,” added Eric Peter Roxas, REDC chief executive officer.
REDC has provided scholarships to four Dumagat students who are taking college courses Northern Quezon College Inc. in Infanta, Quezon, and Calamba Doctors College in Laguna.
“Two students will study Business Administration, one student will take up a Nursing degree, while another student will take up a bachelor’s degree in Elementary Education,” REDC said.
“Education is one of the key elements to attain a better quality of life, and we are committed to doing our part to ensure no Filipino will be left behind. By helping students get a college degree, we are providing them a ladder towards a fruitful professional career for themselves and their loved ones,” Roxas said
In July last year, REDC raised P1.15 billion by doing an initial public offer (IPO) at the Philippine Stock Exchange, offering to the public 230 million shares at P5 apiece.
In Quezon, REDC operates the 1.4-megawatt (MW) Lower Labayat mini-hydropower plant in Real, Quezon and the 5MW Tibag mini-hydropower plant in Mauban, Quezon.
It is also building the 4.5MW Piapi River Hydroelectric Power Plant in Mauban, Quezon.
