AFTER 12 days, the three hydropower plants in Bakun, Benguet resumed operations.
Bakun Mayor Billy Raymundo immediately order the lifting of the stoppage order and allow the operation of the Labay, Lon-oy and FLS hydropower plants Friday afternoon, August 7, following the dialogue and signing of an agreement by the local government unit and Hedcor Inc. in Benguet capitol.
Under the agreement, Raymundo, as the chief executive, will issue a permit for the three plants once the company completes their business permit renewal process and other requirements, while Hedcor is asked to withdraw the case against Bakun officials filed in the Regional Trial Court upon the issuance of their business permit.
Hedcor also pledged to provide P4,360,000 financial aid for the municipality within 30 days from the signing of the agreement and another P2,180,000 financial assistance to Barangays Sinacbat and Poblacion.
Upon signing of the agreement, the company pledge to restart negotiations for the new MOA with the town for the voluntary sharing of its income for 2020 onwards.
"Both parties shall exercise all efforts to resolve and agree on a MOA at the soonest possible time," stated the agreement signed by Mayor Raymundo and Hedcor Vice President for Corporate Services Noreen Vincencio.
On July 26, officials of Bakun served the stoppage of operation order to Hedcor Inc. in its three hydropower plants due to expired business permit and MOA.
For more than 25 years, the company had been operating in the town with 35 personnel operating the three hydropower plants.
In an official statement, Hedcor said the resumption of operations will enable the company to continue its decades-old collaboration with the local government of Bakun.
"The people of Bakun will reap the benefits of this gesture on the part of Mayor Raymundo. We, in Hedcor, look forward to continuing our commitment to advance business and communities," Hedcor added.