VMHI was incorporated in June 2012 as the project company to implement a greenfield power plant project, which will involve the construction and operation of a series of run-of-river hydropower facility in Barangay Kapitan Ramon in Silay City, which is located in the northwestern section of the Negros island. VMHI will implement the project in phases, where Phase 1 will involve the construction and operation of a 6 MW power plant facility along the Malogo river. The company is in the process of obtaining necessary permits and contract approvals. Once done, construction will commence and is estimated to be completed after 22 months.
VEC has a 75% equity stake in VMHI as of end-2012.