After four years since PSALM’s auction, the Angat Hydropower Corporation (AHC), a subsidiary company of Korea Water Resources Corporation (K-Water) and the winning bidder to the 218 MW Angat Hydroelectric Power Plant finally took over on November 1, 2014.

Present during the signing of the Joint Certificate of Turnover at the New World Hotel in Makati on October 31 were PSALM President Emmanuel Ledesma, President Gye Woon Choi of K-Water and President Geung Jeon Han of AHC.

Witnesses also of the turnover were Ambassador Hyuk Lee of Korea, House Energy Committee Chairman Congressman Reynaldo Umali, DOF USec JImbo Reverente, NPC President Ma. Gladys Cruz-Sta. Rita, NWRB Executive Director Silvino David, PEMC President Melinda Ocampo, and Mayor Alfredo Germar of Norzagaray, Bulacan.

As indicated in the said agreement, K-Water shall soon commence the retrofitting of the Angat Dam and the power plant. NPC, though shall remain to manage Angat Dam’s non-power components like the spillway, dam and watershed.