Developer Hedcor Inc. has signed an agreement with the Indigenous People of La Trinidad Organization (LTIPO) allowing for upgrades of the Bineng hydroelectric power complex.
The deal will see LTIPO net a one centavo per kWh, equating to about US$12,070 annually for the organization and about $16,100 for the group’s development fund.
“We are happy that the Indigenous Peoples of La Trinidad see the benefit of our project,” Hedcor senior vice president Chris Faelnar said. “Hedcor will continue to partner with communities to make a better community.”
The project also includes provisions for a multi-purpose building and an observation deck, which the developers hope will increase regional tourism.
The Bineng Combined Hydroelectric Power Project is located on the Balili River in La Trinidad, Benguet, and includes the Bineng 1, 2, 2B and 3.
Hedcor, a wholly-owned subsidiary of AboitizPower, announced its plan to increase the cumulative output capacity of Bineng 1, 2 and 2B from 5.48 MW to 19 MW in August. The upgrades exclude work on the 4.5-MW Bineng 3.
AboitizPower has not released a detailed timeline for the project, but said it expects the work to be complete in 2018.
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