by Othel V. Campos – March 28, 2016 at 11:25 pm
from Manila Standard
State-run Bases Conversion and Development Authority tapped a Turkish group to rebuild a mini-hydro power plant in Baguio City to supply electricity to Camp John Hay.
BCDA said it signed an agreement with John Hay Management Corp. and Riverflow Ventures and Power Energy Corp. of Turkey to rebuild a mini-hydro power plant with a capacity of at least 3 megawatts.
Riverflow Ventures is a joint venture composed of Turkish-based Vendeka Bilgi Teknoloileri Ticaret Limited Sirketi and Isabela Power Corp.
“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,” said BCDA president and chief executive Arnel Casanova.
Casanova, JHMC president Jamie Eloise Agbayani and Riverflow Ventures 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 on March 16.
The agreement is expected to rationalize electricity prices within the former American military base for the benefit of current and future locators.
Agbayani said Riverflow Ventures would 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.
Under the agreement, RVPEC leased some 38.8 hectares within the Camp John Hay reservation, including the site of the mini-hydro power plant and the surrounding area that needs to be developed to facilitate the power plant’s operation.
The lease and development term of the property is 25 years, renewable for another 25 years upon mutual agreement of the parties.