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Manila Bulletin devider Philippines devider Luzon devider Hedcor gives P3.2-M shares to Manolo Fortich, Bukidnon

Hedcor gives P3.2-M shares to Manolo Fortich, Bukidnon

Published Jul 16, 2024 06:58 am

Hedcor, an Aboitiz Power Corp. renewable energy subsidiary, released P3.2-million worth of community shares and Energy Regulations No. 1-94 (ER 1-94) funds to Manolo Fortich, Bukidnon.

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MANOLO Fortich Mayor Rogelio N. Quiño receives the municipality’s community shares from Hedcor represented by External Relations Manager for Mindanao David Tacder and Assistant Vice President for External Relations John Michael Rico.

The local government plans to allocate the shares to priority projects widening healthcare service access to remote barangays, enhancing support for early childhood education, and improving safety and security through the installation of additional solar street lights.

Broken down, P1.59 million in community shares and P1.63 million in ER 1-94 funds were sourced from the operation of Hedcor’s two hydropower plants in Manolo Fortich, covering the period of July to December 2023.

ER 1-94, a policy of the government, was enacted to ensure that host communities get a reasonable share of the profit from power plants operating in their area. It states that these communities will receive one centavo for every kilowatt hour (P0.01/kWh) generated.

“Thank you very much, Hedcor family, for the significant amount received by the local government. Thank you also for your help to Manolo Fortich. It has been our great dream that a company investing in our town can assist our fellowmen, especially those in need,” said Quiño.

During the 107th Charter Day celebration of Manolo Fortich, the local government recognized Hedcor as one of its top taxpayers for fiscal year 2023, commending its support for the municipality's programs.

“We are grateful for the opportunity to support the municipality of Manolo Fortich in its efforts to improve the community’s quality of life. We are aligned in our efforts to foster sustainable growth and make a positive difference in the lives of the residents,” said Hedcor President and Chief Operating Officer Rolando Pacquiao.

Related Tags

Aboitiz Power Hedcor Bukidnon Manolo Fortich
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