The Board of Investments (BOI) has approved incentives to 12 renewable energy (RE) projects of First Gen Mindanao Hydro Power Corp. (FGMHPC) including the 23 MW Bubunawan hydropower project worth P5.07 billion in Baungon and Libona, Bukidnon.

The Bubunawan project is scheduled to operate commercially in January 2017 and is expected to provide jobs up to 45 personnel. FGMHPC is currently negotiating with the Cagayan Electric Power and Light Company, Inc. (CEPALCO) and Misamis Oriental-I Electric Service Cooperative (MORESCO-I) for the necessary interconnection arrangement.

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