The Philippine Board of Investment (BOI) conducted a site visit in Sunwest Water and Electric Company 2’s (SUWECO 2) 8MW Villasiga Mini Hydroelectric Power Plant located in Brgy. Igsoro, Bugasong, Antique on February 7 and 8, 2019 as part of the regular functions of the Legal and Compliance Service (LCS) of BOI and policy on the annual inspection of registered projects.
The visit was led by Sunwest Group’s Senior External Affairs and Relations Officer, Mr. Jerry Pongpong Jr., Tax Manager, Mr. Louie Mendoza, and Tax Supervisor, Ms. Precious Astillero together with BOI Senior Investment Specialist, Mr. Arvin Marquez, and Investment Specialist, Ms. Marielle Atienza.
During the visit, Mr. Marquez and Ms. Atienza checked the overall operations of the hydropower plant. Engineer David Aranda, Plant Head of the Villasiga Hydropower Plant, explained to them how the controllers, turbines, and penstock operate and work.
For the strict compliance of SUWECO 2, Villasiga Mini Hydroelectric Power Plant was granted a 7-year Income Tax Holiday by BOI, which awards tax reduction or elimination for the project proprietor and was also given to boost economic activity and foster growth for any investment in the country.
The power plant was first registered in 2010 and established in 2016. It provides affordable electricity to the locals of Bugasong, Antique, and has a capacity of 8 megawatts, which can accommodate an estimated 8,000 homes in a year. SUWECO’s vision and mission is to be the leading developer of renewal energy, especially in the grid areas of the country.
BOI is an attached agency of the Department of Trade and Industry (DTI) which is responsible for the promotion of investments in the country.