Aboitiz group raises P4.1B to fund power projects
The Aboitiz family, through Hedcor Sibulan Inc., plans to issue up to P4.1 billion in fixed-rate corporate notes to fund general corporate purposes.
Proceeds from the notes issuance will be used to finance the partial redemption of Hedcor’s redeemable preferred shares pursuant to its capital management program, and to fund other capital requirements.
Hedcor, a wholly-owned subsidiary of Aboitiz Power, specializes in generating renewable nergy from run-of-river hydropower systems. It manages and operates 22 hydropower plants and supplies the country with 186 megawatts of clean and renewable energy.
Among its projects include the 16.3 megawatt Sibulan Hydro A plant, 26.2 MW Sibulan Hydro B plant and the 6.7 MW Tudaya 1 plant.
Hedcor is a wholly-owned subsidiary of AboitizPower. It specializes in generating renewable energy from run-of-river hydropower systems.
Today, Hedcor manages and operates 22 hydropower plants and supplies the country with 185 MW of clean and renewable energy.
With more than 30 years of experience, Hedcor is the leading run-of-river developer in the Philippines.