Another good reason for AP investors to hold into their shares (and maybe add more).
MANILA – The joint venture of SN Power Invest AS of Norway and Aboitiz Power Corp plans to put up run-of-river hydropower plants.
Emmanuel V. Rubio, SN Aboitz Power Inc (SNAP) president, said the company plans to put up new hydro plants that use the natural flow of rivers to generate electricity.
“Our board views that there are opportunities out there, especially [for] cascading [rivers] that when you combine, you can come up with something substantial,” he said.
SNAP operates three hydropower plants – the 105-megawatt Ambuklao, 100-megawatt Binga and 360-megawatt Magat – all of which were acquired through government bidding.
“Our initial target kasi dati was 70 megawatts and above. Now we’re looking at smaller projects,” Rubio said.
These “smaller” hydro projects are eligible for feed-in-tariff incentives, which are the rates applicable to renewable energy plants.
Some of the areas where these smaller projects will rise are near SNAP’s hydropower plants.
As such, the company would be able to gain experience in developing new plants that compliment their existing facilities.