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Repower Energy Development Corp. . said Monday its net income reached P172.8 million in 2023, up nearly 3 percent from P168 million in 2022 following the commissioning of two new power plants in the fourth quarter of 2023 and the steady generation from its portfolio of run-of-the-river hydropower plants.
REDC’s expenses increased in 2023 compared to 2022 due to non-recurring expenses incurred for its initial public offering listing, retirement fund and accounting for the feed-in-tariff differentials for the years 2022 and 2023.
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