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AMBUKLAO-BINGA TURNOVER RITES. Government has formally turned over the Ambuklao-Binga Hydroelectric Power Complex to its new owners, SN Aboitiz Power Benguet, Inc., a joint venture between SN Power of Norway and Aboitiz Equity Ventures (AEV). Photo shows AEV Chief Operating Officer Erramon Aboitiz presenting a symbolic check for US$227 million to Energy Secretary Angelo T. Reyes, representing 70 percent of SNAP Benguet’s payment for the two hydroelectric power plants. Also in photo are (from left) PSALM President Jose C. Ibazeta, Finance Undersecretary Jeremias Paul, and NPC President Cyril C. Del Callar.
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