Connect with us

Hi, what are you looking for?

Economy

Pandemic sets back SNAP’s Alimit hydro complex

By Angelica Y. Yang, Reporter

SN Aboitiz Power (SNAP) said the global health emergency had pushed back the timeline of its planned Alimit hydropower complex in Ifugao province.

“The project has been put on hold since ground engagements and activities are restricted due to the COVID-19 (coronavirus disease 2019) pandemic,” SNAP President and Chief Executive Officer Joseph S. Yu told BusinessWorld over e-mail through the firm’s communications department on Oct. 18.

The hydropower complex has already completed its feasibility study, secured the free prior and informed consent of indigenous communities, and has received an environmental compliance certificate from the Environment department, Mr. Yu said.

He said the project is set to be implemented over phases, with the first phase covering the construction of the 120-megawatt (MW) Alimit plant and 20-MW Olilicon plant.

“The capital outlay for this phase is expected to be between $500 [million] to $600 million,” Mr. Yu said.

The second component is the 250-MW Alimit pumped storage facility.

The SNAP official also gave updates on SNAP-Magat’s planned battery energy storage system project in Ramon, Isabela. The facility, which has a capacity of 20 MW, will be mainly used for ancillary services.

“Early work activities have been completed and SNAP is looking at the second half of 2024 for the start of commercial operation,” Mr. Yu said, referring to the project.

According to him, SNAP continues to look for ways to expand its renewable energy portfolio.

“In line with our purpose of powering positive change, we continue to seek opportunities in renewable energy as we work toward our goal of contributing to the country’s sustainable energy future,” Mr. Yu said.

Last week, SNAP announced that it had secured a 10-year power supply deal with Singapore-based power producer Nexif Energy.

Nexif Energy will be supplying solar power to SNAP sourced from its 75-MW solar facility in Calabanga, Camarines Sur.

SNAP is a joint venture of listed holdings firm Aboitiz Power Corp., and Oslo-based renewable energy provider Scatec.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

LABOR LEADER and Presidential candidate Leodigario Q. de Guzman said his P1-trillion recovery plan will be financed by a one-time 20% wealth tax on...

Economy

THE average spot price of electricity on the wholesale electricity spot market (WESM) fell to P5.17 per kilowatt-hour (kWh) in November from  P6.75 a...

Economy

EXPORTERS said they expect shipments to grow as markets reopen and industry members make progress on their digitalization efforts.   George T. Barcelon, Philippine...

Economy

THE German government is supporting a Department of Environment and Natural Resources (DENR) program that will make coastal management more prominent in the development...

Economy

THE Department of Environment and Natural Resources (DENR) said public health is at risk from the improper use and disposal of antibiotics from healthcare facilities...

Economy

In the last decade, standards and frameworks used to report material environmental, social and governance (ESG) topics have become quite crowded, leading to an...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.