SN Aboitiz eyes nearly double power capacity

MANILA, Philippines - SN Aboitiz Power Group (SNAP) is eyeing to nearly double its capacity in the next five years with more hydropower projects and other complementing power facilities, a ranking company official said.

“It’d be good if we can double our size….if we can add somewhere between 300 and 500 megawatts (MW) of capacity in the next five to seven years,” SNAP executive vice president and COO Joseph Yu said in an interview during the 10th anniversary of the Wholesale Electricity Spot Market (WESM).

The company operates roughly 600 MW of hydropower facilities.

SNAP, a joint venture between SN Power of Norway and Aboitiz Power Corp., owns and operates the 360-MW Magat hydropower plant located at the border of Ramon, Isabela and Alfonso Lista, Ifugao, as well as the 105-MW Ambuklao hydro facility in Bokod and the 140-MW Binga hydroelectric plant in Itogon, both located in Benguet.

The target will be achieved through a combination of “acquisition, greenfield construction and privatization,” Yu said.

SNAP has an approved renewable energy service contract (RESC) for the 100-MW Alimit hydroelectric power plant (HEPP), the 240-MW pumped storage facility, and the 10-MW Ollicon HEPP.

The company is currently undertaking feasibility studies for each project component, as well as securing permits such as the free, prior and informed consent (FPIC), 82 barangay clearances and provincial government permits, among others.

Yu also said earlier the company is interested in the privatization of government-owned hydropower assets scheduled in 2017, particularly the 728-megawatt Caliraya-Botocan-Kalayaan (CBK) plant in Laguna and the 140-MW Casecnan multi-purpose plant in Nueva Ecija.

Apart from greenfield projects and acquisitions, Yu said they are also interested in investing in complementary power facilities.