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Hedcor turns over P9.7M community shares to Bukidnon

Hedcor Turnover
COMMUNITY SHARES TURNOVER. Bukidnon Governor Rogelio Neil Roque (3rd from right) receives the community shares check from Hedcor VP for Operations and Maintenance Leo Lungay (2nd from left) and VP for Corporate Services Noreen Vicencio (3rd from the left). With them are (L-R) Hedcor AVP for Operations and Maintenance Galen Alova, Acting Asst. Provincial Treasurer Leo Augustus Barroso, and Admin. Officer V Lea Aguado.

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.


About AboitizPower

AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services. It advances business and communities by providing reliable and ample power supply at a reasonable and competitive price, and with the least adverse effects on the environment and host communities.

The company is one of the largest power producers in the Philippines with a balanced portfolio of assets located across the country. It is a major producer of Cleanergy, the company’s brand for clean and renewable energy with several hydroelectric, geothermal, and solar power generation facilities. It also has thermal power plants in its generation portfolio to support the country’s baseload and peak energy demands.

The company also owns distribution utilities that operate in high-growth areas in Luzon, Visayas, and Mindanao, including the country’s second and third largest private utilities.

AboitizPower, together with its partners, is the Philippines’ largest owner and operator of renewable energy based on installed capacity. In the next 10 years, the company will significantly expand its Cleanergy portfolio, in support of the government’s efforts to promote renewable energy in the country. AboitizPower will build an additional 3,700 MW of renewable energy, growing its existing Cleanergy capacity threefold by 2030.

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