A UNIT of Aboitiz Power has completed the requirements for a hydroelectric power venture.
SN Aboitiz Power-Magat Inc. (SNAP-Magat) has received the certificate of compliance (COC) from the Energy Regulatory Commission (ERC) for four 90-megawatt (MW) units of the Magat Hydroelectric Power Plant.
In a disclosure to the Philippine Stock Exchange (PSE), AboitizPower said the COC is valid for five years, signifying that the hydropower plant has complied with the requirements for power generation companies under the 2014 Revised Rules for the Issuance of Certificate of Compliance.
The company has also met the requirements of the Philippine Grid Code, Philippine Distribution Code, and Wholesale Electricity Spot Market Rules (WESM).
SNAP-Magat is a joint venture between AboitizPower subsidiary Aboitiz Renewables Inc. and SN Power Invest Netherlands BV.
The 360-MW Magat hydroelectric plant is located at the border of Ramon, Isabela and Alfonso Lista, Ifugao.
SNAP-Magat earlier signed a Memorandum of Agreement with the National Irrigation Administration (NIA) to build an 8.5 MW hydroelectric power plant along the Maris Main (South) Canal in Magat.
Maris Main in Barangay Ambatali is managed and operated by the NIA.
The plant will use the irrigation water from the Maris Reservoir for the Maris Main
(South) Diversion Canal.
The two-year construction of the power plant is expected to be completed in November 2017.
AboitizPower is the holding company of the Aboitiz Group in power generation, distribution, retail, and services, with several hydroelectric and geothermal assets in its portfolio.
The company also has fossil-fired power plants located across the country.