Aboitiz to put up hydro plant in Mountain Province

Manila Times.net

ABOITIZ Power Corp. (AP) will put up a new hydroelectric power plant in the Mountain Province.

In a regulatory filing, AP said wholly owned subsidiary Hedcor Sabangan Inc. will construct a 13.2-megawatt run-of-river hydro plant by the first quarter next year.

“The two-year construction period is expected to commence in the first quarter of 2012 assuming that the required permits are secured by then,” AP said.

Hedcor Sabangan is securing the environmental clearance and water rights as well as permits from the National Commission on Indigenous Peoples (NCIP) for the said project.

“As part of the Free and Prior Informed Consent (FPIC) process for the project as required under the Indigenous Peoples’ Rights Act of 1997, Hedcor Sabangan signed memoranda of agreement with the indigenous peoples of Barangays Namatec and Napua and the municipality of Sabangan, Mountain Province in February and March 2011, respectively,” AP said.

Besides Hedcor Sabangan, another AP subsidiary, Hedcor Tudaya Inc., will put up 6.6- and 7-megawatt hydro plants in Davao del Sur.

The project will also entail run-of-river technology, which relies on the flow of water to operate turbines that generate electricity and so requires no large water reservoirs or dams.

Hedcor Tudaya is also awaiting the NCIP’s approval for its project after completing the FPIC process with the Bagobo-Tagabawa indigenous people early in the year.

Construction of Hedcor Tudaya’s hydro project is expected to commence in July this year.

AP shares closed lower on Monday at P31.05 from their previous finish of P31.15.EUAN PAULO C. AÑONUEVO