Author Topic: SN Aboitiz Power Group pursues the rehabilitation of its hydro power plants  (Read 657 times)

MikeLigalig.com

  • FOUNDER
  • Webmaster
  • *****
  • Posts: 33285
  • Please use the share icons below
    • View Profile
    • Book Your Tickets on a Budget
The SN Aboitiz Power Group pursues the rehabilitation of its hydro power plants to add about 250 megawatts (MW) to the company's generating capacities, a ranking company official said Thursday.

SN Aboitiz Power chief executive officer Emmanuel Rubio said the consortium, composed of SN Power of Norway and Aboitiz Power Corp., will rehabilitate the 360-megawatt Magat hydro plant, 100-MW Binga hydro power plant and 75-MW Ambuklao plant.

The Ambuklao and Binga hydro plants are located in Benguet while the Magat plant is located in Ramon, Isabela and Alfonso Lista, Ifugao.

Rubio said the company planned to raise the capacity of the Ambuklao plant to 105 MW from 75 MW, "which is something that is much needed by the grid."

"We will also raise capacity of Binga from 100 MW to 125 MW and for Magat, we're looking at something from 90 MW to 180 MW (additional capacity)," the official said.

Rubio said the firm had not made a decision yet on when to start the expansion of the Magat plant capacity. SN Aboitiz, however, have started the rehabilitation

"The earlier we can finish it (rehab), the better for us because it will generate revenues for us and then contribute to the grid," Rubio said.

Rubio said the company hoped to secure financing for the rehab projects amid a renewed investor interest in the Philippines under the Aquino administration.

"We will do the model that we used for Magat and Binga and that's project financing. We have the same set of lenders for Magat and Binga. I think they're happy with that performance. They're happy with the industry. They're confident about how our economic managers are handling things," he said.

SN Aboitiz is also undergoing the rehabilitation of the Ambuklao hydropower facility and targets to bring its generating capacity to 105 megawatts by December. The Ambuklao power plant has been shutdown since 1999 when a massive earthquake struck the area.

SN Aboitiz acquired the Ambuklao-Binga plants in an auction on Nov. 28, 2007 after submitting the highest bid of US$ 325 million.

The company allocated US$ 280 million for the total rehabilitation cost and capital expenditure for the Ambuklao-Binga hydro power plants.

The group also acquired the Magat plant from the government in 2006 for US$ 530 million.

SN Aboitiz is a joint venture between SN Power of Norway and Aboitiz Power Corp. Aboitiz Power is the a holding company of the Aboitiz Group’s investments in power generation and distribution while SN Power is a global renewable energy company established in 2002 as a Norwegian limited company owned by Statkraft and Norfund.

Statkraft is Norway's public power utility and Europe’s largest generator of renewable energy while Norfund is a leading Norwegian risk capital investor in emerging markets funded by the Norwegian Government. SN Power currently operates hydropower plants in Latin America and Asia and is expanding into Africa through a separate subsidiary. (PNA)

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=33254.0
John 3:16-18 ESV
For God so loved the world, that he gave his only Son (Jesus Christ), that whoever believes in him should not perish but have eternal life. For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him. Whoever believes in him is not condemned, but whoever does not believe is condemned already, because he has not believed in the name of the only Son of God.

👉 GET easy and FAST online loan at www.tala.com Philippines

Book tickets anywhere for planes, trains, boats, bus at www.12go.co

unionbank online loan application low interest, credit card, easy and fast approval

Tags: