SN Aboitiz Power Inc., joint venture between SN Power of Norway and Aboitiz Power Corp., plans to put up new hydroelectric projects in Luzon with a combined capacity of up to 300 megawatts, a ranking official said Monday.
SN Aboitiz Power chief executive Emmanuel Rubio told reporters the company was preparing the feasibility study for the so-called greenfield projects.
“We’re looking at identifying these opportunities by December and then we will present this to our board [for us] to proceed with the pre-feasibility,” he said.
Rubio said the company was hoping to find potential hydro projects that could generate minimum of 100 MW each.
“Most [of the projects)] would be in Luzon. I think there’s one [in Visayas] that we’re looking at,” he said.
He said the cost of building the new hydro projects would depend on the results of the feasibility study.
SN Aboitiz will pursue the hydro projects with Aboitiz Power.
Rubio said last week that SN Aboitiz would rehabilitate its three hydro projects to generate an additional 250 MW of power.
The company plans to rehabilitate the 360-MW Magat, 100-MW Binga and 75-MW Ambuklao hydro plants.
The Magat power plant is located in Ramon, Isabela and Alfonso Lista, Ifugao while the Ambuklao and Binga plants are in Benguet.
Rubio said the company aimed to raise the capacity of the Ambuklao plant to 105 MW from 75 MW.
“We will also raise capacity of Binga from 100 MW to 125 MW and for Magat, we’re looking at something from 90 MW to 180 MW [in additional capacity],” Rubio said.
The hydro projects are in various stages of rehabilitation, with SN Aboitiz undecided yet on the expansion of the Magat plant capacity.
“The earlier we can finish it [rehab], the better for us because it will generate revenues for us and then contribute to the grid,” Rubio said.
Rubio said the company was confident of securing funding for the rehabilitation projects amid renewed investor interest in the Philippines.
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