Monday, July 24, 2017

AboitizPower hydro subsidiary to expand Benguet facility

Published July 13, 2017, 10:01 PM

AboitizPower is set to triple the combined capacity of its Bineng hydro power plant facilities to up to 19 MW by 2019 after receiving the approval of the municipal council of La Trinidad, Benguet.
The Bineng Combined Hydropower Project, to be carried out by AboitizPower subsidiary Hedcor, will increase the capacity of the three Bineng plants from the current 5.48 MW to 19 MW.
Hedcor and the local government unit of La Trinidad signed on June 27 the Memorandum of Agreement to cover the project and the benefits for the locality.
Since its entry in Benguet in 1986, Hedcor has sustained its growth momentum. Starting from the rehabilitation of four hydroelectric power plants owned by the City of Baguio, the company later on constructed its own generation facilities in the municipalities of La Trinidad, Sablan, Tuba, Bakun, and Itogon.
Mayor Romeo Salda of La Trinidad welcomed the project. “We are positive that this development will have great impact on the municipality’s growth. The local government will play an active role in making this project a success,” he said.
In addition to being a reliable power supplier, Hedcor and AboitizPower are strong partners in the socio-economic development of the community.
In 2016, the La Trinidad local government unit received about P77 million as its barangay and municipal share from the operation of the hydropower plants. Moreover, Hedcor’s business tax, real property tax, and national wealth tax in 2016 reached P67 million.
The municipality of La Trinidad has also received corporate social responsibility (CSR) projects worth P13 million, to date. These projects include farm-to-market roads, school buildings, and loans to cooperatives involved in the cut flower business.

No comments:

Post a Comment