S. Korea govt to fund Napocor project

The Philippines' National Power Corp. on Monday said it will be using a fund from the South Korean government to finance its hydro electric projects in Mindanao. The Napocor project called Entitled Establishment of Early Warning and Monitoring System for Agriculture and Water Resources will be jointly undertaken with the Philippine Atmospheric, Geophysical and Astronomical Administration. Funding from the project will be coursed through the Korea International Cooperation Agency. Three of these monitoring systems will be established in the country, one in Aurora province, another in Iloilo, and the last in Lanao. Napocor said its Agus Hydroelectric Power Complex, through its Mindanao Generation will directly benefit from this project because the Mindanao system will be installed within the Lake Lanao-Agus River Watershed. According to Napocor, the project is targeted to be implemented within the year. Napocor’s MinGen operates the five power plants that comprises the AHPC. The complex is the main power source of the Mindanao Grid. - GMANews.TV