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Business

SNAP to build 20 MW battery storage project

Danessa Rivera - The Philippine Star

MANILA, Philippines — Renewable energy (RE) developer SN Aboitiz Power Group (SNAP) the joint venture between Norwegian firm Scatec and Aboitiz Power Corp. will start construction of a 20-megawatt (MW) battery energy storage system (BESS) in Isabela this month after securing construction and financing deals.

In a disclosure to the Philippine Stock Exchange yesterday, SNAP said it signed an engineering, procurement and construction (EPC) agreement with Hitachi Energy, while it tapped the Bank of the Philippine Islands and China Banking Corp. to provide financing for the development of the BESS project at its Magat hydroelectric power plant in Ramon, Isabela.

Construction is expected to commence within the month, signaling the project’s progress toward its targeted commercial operation in the first quarter of 2024.

“We are excited about technologies like BESS that complement our ambition of bringing forth an RE-powered future, and continue to explore and assess other greenfield and brownfield opportunities beyond hydropower and floating solar. We also appreciate the support of our banking partners for project financing,” SNAP Group president and CEO Joseph Yu said.

The BESS project marks the first venture between AboitizPower and Scatec, after the Norwegian RE solutions provider acquired SN Power.

“This is an important milestone for the Scatec and Aboitiz partnership in the Philippines. It is the first step in our ambition to work on more initiatives here. The Philippines is an important market for Scatec, and we see several promising opportunities, especially in renewables,” Scatec’s general manager for Southeast Asia Torbjørn Elliot Kirkeby-Garstad said.

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.

“This new development in our Magat facility is a significant step forward in our renewable energy ambitions over the next 10 years. We intend to take an active role in the Philippine renewable energy market, but this is not our journey alone. We’re fortunate and proud to be working with Scatec, Hitachi, and our banking partners with whom we share the same aspiration for a more sustainable energy future,” AboitizPower president and CEO Emmanuel Rubio said.

RENEWABLE ENERGY

SNAP

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