The Land Bank of the Philippines (Land Bank) has signed a PHP2.6 billion loan agreement with Cabanglasan Hydropower Corporation (CHC) to finance the construction of a 15 MW hydropower plant in the Bukidnon province of Mindanao. The loan has been approved under the bank’s Renewable Energy Program.

The hydropower facility will be located on the Pulangi River. Once the facility is operational in 2025, it will improve the sustainability and reliability of energy supply in 15 municipalities in the Bukidnon province.