REFC Board approves Cantingas Mini-Hydro Power’s reinvestment
The Cantigas Mini-Hydro Power Corporation, the subsidiary of Romblon Electric Cooperative, Inc. (ROMELCO) has reinvested another Php 1 Million into the Rural Electrification Financing Corporation (REFC). During the last Board Meeting on January ___, 2018, the REFC Board unanimously approved Cantingas’ additional subscription of Php 1 Million.
“Our goal is make REFC the go-to entity for Electric Cooperatives and its subsidiaries, and related industries in the electrification sector, so that the additional investment of Cantingas Mini-Hydro Power Corporation is very much welcome,” said REFC Board President, Engr. Iglorio Hinayon. “With their additional subscription, they now have a total investment of Php 1.5 Million into the REFC,” he added.
Becoming an investor of REFC has opened a new opportunity for the Cantingas Mini-Hydro Power Corp. as it availed of a Capex Loan to finance its purchase of a Diesel Power Plant that will boost ROMELCO’s power needs.