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Hedcor turns over P9.7M community shares to Bukidnon
November 03, 2022
Hedcor, Inc., a wholly-owned subsidiary of AboitizPower under its renewable energy portfolio and the country’s largest generator of run-of-river hydropower, recently turned over P9.7 million in community shares to its host communities in the municipality of Manolo Fortich and the provincial government of Bukidnon.
The amount is part of the Hedcor and local government agencies’ cooperative agreement that entitles them to shares from the electricity sales generated by the Manolo Fortich 1 and 2 hydro power plants.
“The company is honored to fulfill its role of providing reliable energy to the communities and contributing to their development programs,” Hedcor President and Chief Operating Officer Rolando Pacquiao said.
The provincial government pledged to use the funds to implement projects that benefit the community including the improvement of school facilities and livelihood assistance.
"We thank Hedcor for being steadfast in their commitment to implement our MOAs. We are excited to continue our partnership and witness the positive changes these funds will bring to our communities," said Bukidnon Governor Rogelio Neil Roque.
Of the total amount, P1.7M will go to the Bukidnon province and the municipality of Manolo Fortich, respectively, while P1.2M is for the municipality of Impasug-ong. Since 2018, Hedcor has turned over a total of P59M.
Hedcor’s host barangays and indigenous peoples groups in these areas also received their shares, helping spur grassroots development. Aside from the annual shares, the company continues to advance business and communities by consistently supporting health, education, and livelihood projects in the area.
Hedcor operates 22 hydropower plants in Ilocos Sur, Mt. Province, Benguet, Davao, and Bukidnon, supplying the country with 278 MW of clean and renewable energy.