SN Aboitiz Power Group (SNAP), a joint venture between Norwegian renewable power producer Scatec and Philippine peer AboitizPower, has signed construction and financing agreements for the development of its 20-megawatt battery energy storage system (BESS) project at its Magat hydroelectric power plant in Ramon, Isabela in the Philippines. Its targeted commercial operation is in the first quarter of 2024.
SNAP signed the engineering, procurement and construction (EPC) agreement with Hitachi Energy for the development of the 20-megawatt Magat BESS project on March 25, 2022. The Bank of the Philippine Islands and China Banking Corporation will provide financing.
This marks the first venture of AboitizPower and Scatec after the latter acquired SN Power which has investments in hydro-power businesses in the Philippines. According to Scatec, the Philippines is an important market for the company and it sees several promising opportunities in the country, especially in renewables
The early-phase activities for the Magat BESS project were completed in 2021 as part of the pre-construction stage, which included site surveys and basic engineering design. The facility, which is expandable to 24 MW, is expected to be used primarily for ancillary services. In connection with the BESS project, the upgrade of the 230-kV Magat-Santiago transmission line has been included in the Transmission Development Plan of the National Grid Corporation of the Philippines. The upgrade will allow SNAP to continue adding capacities within the Magat area for additional projects. The Philippine government has launched a Renewable Energy Roadmap with a target of 35% share of renewable energy in the power generation mix by 2030.
(Source: AboitizPower)
