The joint venture of Aboitiz Power Corp and Norway’s Statkraft Norfund Power Invest AS is set to develop its string of greenfield power projects in the Philippines.
In a media briefing today, SN Aboitiz Power (SNAP) president Emmanuel V. Rubio said the company will pursue two hydropower projects in Luzon within the year.
The first project is a 7-megawatt (MW) facility that will tap the waters of the Maris irrigation canal, which state-run National Irrigation Administration (NIA) operates.
The proposed plant lies downstream to the company’s 380-MW Magat hydroelectric facility, which straddles the provinces of Isabela and Ifugao.
The project is estimated to cost between $2.5-3.5 million per megawatt, with completion seen in 2016.
Source: Interaksyon
