RAMON, Isabela: The Department of Energy (DoE) urged the private sector to invest in energy projects in the country and vowed that the government “will provide a conducive environment while protecting the interest of the public.”
This was the message given by Energy Secretary Alfonso Cusi in his keynote address during the recent 10th anniversary celebration of SN Aboitiz Power-Magat Inc.
Cusi challenged the private sector to explore investment opportunities to support Ambisyon Natin 2040, the country’s development vision under President Rodrigo Duterte.
The anniversary celebration was also graced by Ambassador Erik Forner of Norway, members of SN Aboitiz, representatives from host local government units in Isabela, Ifugao and Nueva Vizcaya, as well as other stakeholders.
Noting that the country sources 32 percent of its power from renewable energy, which is relatively higher than most other countries in Asia, Cusi also stressed that the DoE has adopted a “technology-neutral” policy toward power to increase supply and make prices more reasonable.
While the Secretary hailed Magat hydro as an example of “a nexus of water, food and electricity,” he also encouraged more sustainable projects that help not just the community but also the whole country.
On April 26, 2007, SNAP-Magat, a joint venture between SN Power of Norway and AboitizPower, took over Magat hydroelectric power plant following a successful bid and privatization process.
Magat hydro draws water from the Magat Dam, which has the primary purpose of irrigating about 85,000 hectares of agricultural lands in Cagayan Valley.
SNAP-Magat has a dependable capacity of 380 megawatts and is targeting the completion of an 8.5 MW run-of-river hydropower plant along the Maris Canal in Brgy. Ambatali, Ramon later this year.
SNAP President and Chief Executive Officer Joseph S. Yu said, “We chose our theme ‘Power to Sustain’ to re-dedicate ourselves to contributing to the sustainability not only of our business, but also of the environment, host communities, and partners.”
SNAP-Magat owns and operates the Magat hydroelectric power plant, which has a nameplate capacity of 360 MW, located at the border of Ramon, Isabela and Alfonso Lista, Ifugao.