The joint venture company of Aboitiz Power Corp. and SN Power of Norway continues to be on the lookout for opportunities in battery energy storage systems (BESS) and floating solar.
SNAP-Magat said its project in Ramon, Isabela is an energy energy storage system with a 20 megawatt capacity and 20 megawatt per hour energy storage to be used primarily for ancillary services.
The company is targeting to to start commercial operations of the facility by the second half of 2024.
SNAP is also working on the expansion of the Magat floating solar project. It piloted the 200-kilowatt floating solar over the Magat reservoir in 2019, its first non-hydro renewable project.
It has proven its technical and commercial viability, and based on the results of the pre-feasibility studies, phase one of the project will be for 67 MW.
SNAP president and CEO Joseph Yu has underscored the importance of a sustainability framework to support the company’s present and future operations.
“As we pursue more RE projects, we plan to continue our maturity with environment, social, and governance or ESG standards. With ESG, we believe we can promote even more responsible investing and the creation of value which are both important to long-term sustainability,” You said.