Revenue from a small hydropower plant that cost little more than a supercar to build, will help preserve 2,000-year-old Philippine rice terraces dubbed the ''Eighth Wonder of the World,'' conservationists say.

The crumbling ricefields that follow the contours of the mountains in northern Ifugao province and resemble a stairway are slowly being eroded by bad weather and limited upkeep.

On Friday, Philippine officials were handed the symbolic keys to the $1 million 200-kilowatt hydropower plant, which will meet 18 percent of the province's power needs.

It is projected to generate $70,000 in annual revenue for the Rice Terrace Conservation Fund, aimed at shoring up the famed ricefields that have been on UNESCO's list of World Heritage Sites in danger since 2001.

''Many are abandoning the terraces. It's not economically feasible to plant rice because the farmers' land holdings are small,'' Carmelita Buyuccan, head of planning and development at the Ifugao provincial office, told Reuters. (Reuters)