The facility will feature three plants, which will be developed under a subsidiary, SNAP-Ifugao.
It will house the 100MW Alimit plant, the 240MW pumped storage facility and the 10MW Olilicon plant.
SNAP-Ifugao is a joint venture between SN Power of Norway and AboitizPower.
The contract term allows SNAP to operate the facility for 25 years, effective 24 July 2014, with an option to renew for further 25 years.
The project is part of SNAP’s Greenfield Development Program, which intends to increase the company’s renewable portfolio.
The program identifies potential small and large hydro projects in the Philippines, primarily within its existing host communities in northern Luzon.
SNAP said it also supports the government’s renewable energy program to ensure security of supply.
SN Aboitiz Power Group is the collective name of SNAP-Magat and SNAP-Benguet.
SN Aboitiz Power-Magat owns and operates the 360MW Magat hydroelectric power plant (HEPP), located at the border of Ramon, Isabela and Alfonso Lista, Ifugao.
SN Aboitiz Power-Benguet owns and operates the 105MW Ambuklao HEPP in Bokod and the 125MW Binga HEPP in Itogon, both located in Benguet.
Image: The Philippines DOE has approved a renewable energy service contract for SNAP’s 350MW hydroelectric power facility. Photo: markuso/FreeDigitalPhotos.net.
