Capitalists And Money

SN Aboitiz targets 633 MW for customers choosing ‘green’ energy

By Angelica Y. Yang

SN Aboitiz Power (SNAP) is targeting to use 633 megawatts (MW) of the total dependable capacity from its three hydroelectric plants in Isabela and Benguet for the country’s green energy option program (GEOP), its top official said on Thursday.

“For GEOP, SNAP-Magat and SNAP-RES would tap into the 633 MW of combined dependable capacities from their hydroelectric power plants in providing power to companies with demand greater than 100 kilowatts (kW),” SNAP President and Chief Executive Officer Joseph S. Yu told BusinessWorld.

Customers with a minimum of 100 kW of usage can source their supply from a retail energy supplier, according to the GEOP, a voluntary renewable energy policy mechanism launched in 2018.

Last month, the Department of Energy (DoE) granted GEOP operating permits to six firms, including SNAP-Magat, Inc. and SNAP-Res, Inc.

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“SNAP-Magat and SNAP-RES will tap into the combined dependable capacities of SNAP Group’s hydroelectric power plants. SNAP-Magat will source from the 388-MW Magat hydroelectric power plant. SNAP-RES, on the other hand, will source from the 105-MW Ambuklao and 140-MW Binga plants,” Mr. Yu said in a response to e-mailed questions.

He said that the two firms planned to engage companies that had a demand greater than 100 kW, particularly those that wanted to meet their environmental sustainability goals; and environmental, social and governance standards.

Mr. Yu added that the SNAP firms were looking to work with companies that were part of the RE100, a global initiative made up of businesses that have committed to using 100% renewable power.

SNAP is a joint venture between SN Power AS of Norway and locally listed Aboitiz Power Corp.

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