DBP bankrolls P2.6-B Ifugao mini hydro project

Published July 22, 2022, 4:30 PM

by Emmie V. Abadilla

The Development Bank of the Philippines (DBP) is funding Kiangan Mini Hydro Corporation (KMHC)’s P2.6-billion consolidation of three river systems into two renewable power projects in Ifugao.

“DBP’s credit support to the Asin-Hungduan and Ibulao1 Mini Hydropower Projects demonstrates our commitment to help the country accelerate the use of renewable energy resources,” DBP President and Chief Executive Officer Emmanuel G. Herbosa stated Thursday, July 21.

The Kiangan Project is a portfolio of small-scale run-of-river hydropower projects that will harness the water from the Asin, Hungduan and Ibulao River systems to convert it into clean, renewable electricity.

It is expected to supply 17.5 MW of renewable power supply to the Luzon grid to help meet the target of 30 percent renewable energy share in the country’s energy mix by 2030.

Kiangnan – Hungduan River

The project is being developed by KMHC, a consortium composed of Alternergy Mini Hydro Holdings Corporation, a pioneering renewable energy company led by former energy secretary Vicente S. Pérez Jr.; Renova Renewables, a leading renewable energy developer in Japan; and Sta. Clara International Corporation, a full-service engineering, construction, development company.

DBP is excited to partner with Alternergy for the Kiangan Project, which is backed by technical support from its Japanese partner and from one of the top-rated construction firms in the country, according to Herbosa.

The Kiangan project, which is located within the ancestral domains of the Tuwali Indigenous Cultural Communities, will also create employment opportunities for the surrounding communities.

“The ongoing construction of the Kiangan Project has engaged members of the indigenous community and provided assistance to residents under the project’s corporate social responsibility program,” the DBP President confirmed.

 
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