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DBP finances hydropower plant in Kalinga

Shown during the signing of the loan agreement are (seated, from left): DBP first senior vice president Ma. Teresa Jesudason; Bernadette Garcia of BHPC; DBP executive vice president Anthony Robles; BHPC president Engr. Adelino Garcia, Jr.; and BHPC corporate secretary Engr. Arnold Garcia. At back (from left) are: DBP Baguio branch head Edgardo Manalo; DBP assistant manager Carmela Joy Magnaye; DBP RMC-Western Luzon head Maria Dolores Guevara; BHPC treasurer Yvette Danica Santos; Grace Garcia and Jan Aaron Augustus Garcia of BHPC.

The Development Bank of the Philippines (DBP) recently granted a P112.5-million omnibus credit facility to Biyao Hydro Power Corporation (BHPC) to partially finance a 0.8-megawatt hydroelectric power plant project in Sitio Sesec-an, Balbalan, Kalinga Province.

The Biyao hydroelectric power plant is the pioneer power project of AV Garcia Power Systems Corporation (AVGPSC).  AVGPSC is the prime mover of this facility and has several renewable energy projects under its wing.  Additionally, both BHPC and AVGPSC are headed by Engr. Adelino Garcia, Jr. who has 35 years of valuable experience in energy resource development and management.

The project is in line with the government’s thrust of achieving energy independence through the development of indigenous and renewable energy resources. More importantly, it is expected to have a multiplier effect on the local economy by stimulating small business activities and ultimately improving the living condition of the residents of the province.