STATE-OWNED Bases Conversion and Development Authority (BCDA) and the John Hay Management Corp. (JHMC) recently signed an agreement with a Turkish-led consortium to rebuild a mini-hydro power plant at the commercial and industrial estate in Baguio City.
The agreement was signed on March 16, the BCDA said in a statement on Monday.
BCDA President Arnel Paciano Casanova, JHMC President Jamie Eloise Agbayani, and the
Riverflow Ventures and Power Energy Corp. consortium represented by Vendeka Bilgi Teknolojileri Ticaret Ltd. Sirketi President Bilali Nadir Uzum and Isabela Power Corp. Executive Vice President Carlo Ma. Fernandez signed the agreement.
Riverflow Ventures is leasing 38.8 hectares within the Camp John Hay reservation that includes the mini-hydropower plant site and the surrounding area that needs to be developed in support of the power plant’s operation.
The lease agreement is 25 years, renewable for another 25 years upon mutual agreement of the parties.
Also present during the signing rites were BCDA Chairperson Ma. Aurora Geotina-Garcia and JHMC Chairman Silvestre Afable Jr.
“We are happy and look forward to the time when the mini-hydro power plant will be in operation as it will complement our medium- and long-term development plans for Camp John Hay,” Casanova said.
“We expect more affordable electricity rates for our locators in Camp John Hay,” Casanova noted.
Agbayani said Riverflow Ventures have the sole right to reconstruct, operate and manage the mini-hydro power plant once used by the Americans when it was still in control of Camp John Hay.
Riverflow Ventures is a consortium of Turkey’s Vendeka Bilgi Teknoloileri Ticaret Limited Sirketi and the Isabela Power Corporation.