Mangima Hydro Power Corporation has secured financing for the construction of a small hydroplant in the province of Bukidnon on the island of Mindanao. The Philippine National Bank announced in December that it had signed an agreement worth Philippine Peso 2.4 billion (USS 46.8 million) with the project developer for the 12 MW run-of-river plant on the river Mangima. The project, which is scheduled to be completed in 2024, is projected to generate average annual output of 64 GWh. The project developer was set up in September 2017 as a joint venture of Philnew River Power Corporation, a subsidiary of Santa Clara Power Corporation (SCPC), and Green Renewable Holdings Corporation (GRHC).
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