Written by Madelaine B. Miraflor Published on 04 September 2012
Publicly listed firm Aboitiz Power Corp. received on Monday its compliance certificate from the Energy Regulatory Commission (ERC), which will last for five years, for its hydroelectric power plant in Benguet province.
In a disclosure to Philippine Stock Exchange, Aboitiz Power was advised by its affiliate, SN Aboitiz Power-Benguet Inc. (SNAP-Benguet), that it received during a ceremonial awarding, the Certificate of Compliance (COC) from the ERC.
“The compliance certificate is for the Unit 1 Turbine of its Binga Hydroelectric Power Plant located at Barangay Tinongdan, Itogon, Benguet. The COC is valid for five years from the date of its issuance,” said the company disclosure.
Aboitiz Power also said that “unit 1, which was upgraded from 25 megawatts to 31.45 MW, began its refurbishment and upgrading on January 6, 2012, and was officially declared available for commercial operations on July 30, 2012 under the expanded capacity.”
SNAP-Benguet is the owner and operator of the Ambuklao-Binga Hydroelectric Power Complex, consisting of the 105-MW Ambuklao Plant located in Bokod town, Benguet and the 100-MW Binga Hydroelectric Power Plant located in Itogon.
Aboitiz Power contributed P9.4 billion to the P11.8 billion consolidated 2012 first half net income of Aboitiz Equity Ventures Inc. (AEV).
AEV said in a statement that AboitizPower, its power business, continued to account for the lion’s share, at 79 percent, of the company’s income contributions from its strategic business units, followed by the banking and food units with income contributions of 17 percent and 4 percent, respectively. source
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