By Richmond Mercurio (The
Philippine Star) | Updated March 29, 2016 - 12:00am
MANILA, Philippines - A Turkish-led
joint venture is set to rebuild a mini-hydropower plant in Camp John Hay,
state-owned Bases Conversion and Development Authority (BCDA) said.
BCDA said John Hay Management Corp.
(JHMC) has signed an agreement with Riverflow Ventures and Power Energy Corp.
(RVPEC) to reconstruct the shuttered mini-hydropower facility in Baguio built
by the Americans over a century ago.
RVPEC is a joint venture between
Turkish-based Vendeka Bilgi Teknoloileri Ticaret Ltd. Sirketi and Isabela Power
Corp.
BCDA said the mini-hydropower plant,
once repaired and operational, would provide ample power supply to Camp John
Hay’s current and future locators.
“We are happy and look forward
to the time when the mini-hydropower plant will be in operation as it will
complement our medium and long-term development plans for Camp John Hay,” BCDA
president and chief executive officer Arnel Casanova said.
“We expect more affordable
electricity rates for our locators in Camp John Hay,” he added.
Business ( Article MRec ),
pagematch: 1, sectionmatch: 1 Under the agreement, RVPEC would lease some 38.8
hectares within the Camp John Hay reservation which includes the site of the
mini-hydropower plant and the surrounding area that needs to be developed to
facilitate the power plant’s operation.
JHMC president and CEO Jamie
Agbayani said RVPEC would have the sole right to reconstruct, operate, and manage
the mini-hydropower plant once used by the Americans when it was still in
control of Camp John Hay.
Agbayani said the lease and
development term is at 25 years, renewable for another 25 years upon mutual
agreement of the parties.
JHMC manages the 695-hectare Camp
John Hay in Baguio, which includes the 301.86-hectare John Hay Special Economic
Zone.
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