Repower Energy Development Corporation will incorporate another first - tier subsidiary, The Baguio Asin Hydropower Corporation, to operate Hydropower Projects, In furtherance of the Existing business of REDC as provided in its corporate charters. REDC will subscribe, at Par, to 100% of the subscribed capital stock of the subsidiary at the time of incorporation. The subsidiary will be an addition to the existing REDC group of Hydropower companies, namely Bicol Hydropower Corporation, Philippine Power and Development Corporation, Majayjay Hydropower Company Inc., Labayat 1 Hydropower Corporation, Tibag Hydropower Corporation, Cabanglasan Hydropower Corporation and Piapi Hydropower Corporation.