Engineer Ramon Hechanova, Chair of the Infrastructure Development Committee of the RDC, presented the Resolution for its implementation to the council during its third quarter Regular meeting, chaired by Governor Salvacion Perez.
Several studies have been conducted in the past for the realisation of the Villa Siga project. The original Nor Consult AS study was conducted in l984, with the National Electrification Administration as the proponent. In l992, Nor Consult conducted a review and updating for the National Power Corporation, and there was another study in 2003, the Trans-Asia updating for the Philippine National Oil Company (PNOC).
In 2005, the Department of Energy recommended that PNOC conduct an entirely new feasibility study through the sponsorship of the International Fusion Company/DOHWA Engineers Consortium of the Republic of Korea, which engaged M. Vergel III Consult – hydro power systems and environmental planning consultants – to prepare the study.
Total project cost of Villa Siga is estimated at PhP 2.048B (US$40.9M), to be funded by a Korean consortium.
Timbahan hydro power project was previously endorsed by the RDC back in l996. However, it was not implemented. In 2003, the Japan External Trade Organization conducted an updated study of Timbahan that now forms the basis of the proposal.
The Timbahan project is estimated to cost approximately US$53M and is proposed for funding by the Japanese government through a JBIC STEP loan window.
