SN Aboitiz Power Group (SNAP), the joint venture between Scatec and Aboitiz Power Corp., signed construction and financing agreements for the development of a 20 megawatts (MW) battery energy storage system (BESS) project at the Magat hydroelectric power plant in Ramon, Isabela.
In a disclosure to the Philippine Stock Exchange, Aboitiz Power said construction of the project will start this month with target commercial operations by the first quarter of 2024.
SNAP signed last month the engineering, procurement and construction agreement with Hitachi Energy for the development of the BESS project with the Bank of the Philippine Islands and China Banking Corp. providing financing.
The parties did not disclose the cost of the project except to say the capacity is expandable to 24 MW.
SNAP added early-phase activities for the Magat BESS project were completed last year.
The National Grid Corporation of the Philippines has included the upgrade of the 230 kilovolt Magat-Santiago transmission line in the transmission development plan, which will allow SNAP to continue adding capacities within the Magat area for additional projects. – Jed Macapagal
