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.
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.