Manila Times.net
The joint venture of Aboitiz Power Corp. (AP) and Norway’s Statkraft Norfund Power Invest AS plans to pursue several greenfield power projects in the Philippines to complement its government acquisitions. Emmanuel Rubio, SN Power Inc. chief executive officer said the company is looking at putting up 70 to 100 megawatts of additional capacity.
“We are looking at identifying these opportunities by December and then we will present these to our board to proceed with the pre-feasibility,” he said.
SN Power plans to identify its future projects from feasibility studies made by state-owned National Power Corp. (Napocor), which has been selling these documents to interested parties.
Once it has chosen its potential projects, SN Power would proceed with validating Napocor’s findings, Rubio said.
SN Power has short-listed hydroelectric projects in Luzon.
“If there is one or two in the Visayas that would fall into our criteria, we will do that,” Rubio said.
Among the joint venture’s assets in the country are the 360-megawatt Magat plant in Isabela, as well as the 75-megawatt Ambuklao and 100-megawatt Binga facilities in Benguet, which SN Power acquired from the government.
AP shares closed lower Monday at P26.10 apiece from its previous close of P26.30 per share.EUAN PAULO C. AÑONUEVO
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