EPOWER Technologies Corp. said it has signed a joint venture agreement for the rehabilitation, operation and maintenance of the 768-kilowatt San Luis mini hydro power plant with the San Luis municipal government in Aurora province.
It said the project cost is P85 million, which includes plant rehabilitation, detailed engineering design and study, original project loan payment, development assistance cost and plant pre-operational cost.
Epower explained that the joint venture agreement covers only the rehabilitation, operation and maintenance of the San Luis mini hydropower plant and that the ownership of the power plant still belongs to the municipal government of San Luis.
The hydropower plant located in Ditumabo, San Luis has been granted a renewable energy hydropower service contract by the Department of Energy (DOE)
The project is seen to create job opportunities for the local community during thye rehabilitation works and during the operation and maintenance period.
The 30-year contractual joint venture agreement involves increasing the present average 20 percent plant capacity factor to 54 percent.
“We are very grateful with the opportunity to work with the municipality of San Luis to maintain this hydro project. By increasing the capacity factor, the plant will be able to deliver more power to the communities served by the facility,” Jose Silvestre Natividad of Epower said.
Natividad and San Luis Mayor Annabelle Tangson, together with Epower top executives Kim Ann Gardiola and Kate Gardiola, signed the agreement.