Cebu-based SN Aboitiz Power Inc. (SNAP) has announced its multibillion-peso investment in a new hydroelectric plant, which is 60 percent Filipino-owned and 40 percent Norwegian-owned, to be set up in the Philippines as the source of power during a local system failure or blackout on June 27, 2007.
It is a joint venture between the Aboitiz Group’s Philippine Hydropower Corp. and the SN Power Holdings Singapore Pte. Ltd. The plant is made up of four identical generating units of the vertical shaft type, each with a capacity of 90 megawatts (MW). It will use water from the Magat River, which is estimated to have a total rated capacity of 360 MW. The facility uses renewable energy from the water reservoirs to generate electricity and environmentally friendly technology.
Best of all, since it is a hydroelectric plant, it is expected to have low variable operating cost. That means this plant would be able to provide competitive rates to the consumers, in turn contributing to reducing power rates and also generate new jobs for Magat residents.
