By Danessa O. Rivera (The Philippine
Star) | Updated October 23, 2015 - 12:00am
MANILA, Philippines - A unit of
Aboitiz Power Corp. will build an 8.5-megawatt (MW) hydroelectric power plant
in Isabela after sealing a deal with the National Irrigation Administration
(NIA).
In a disclosure to the Philippine
Stock Exchange yesterday, AboitizPower said its unit SN Aboitiz Power-Magat
Inc. (SNAP-Magat) signed with NIA for the construction of the hydroelectric
power plant along the Maris Main (South) Canal along the Magat River which is
under the operation and management of NIA.
AboitizPower said the hydroelectric
power plant will use the irrigation water released from the Maris Reservoir for
the Maris Main (South) Canal.
“The project shall commence in the
last quarter of 2015 and is targeted to be completed by November 2017,” the
company said.
SNAP Magat and NIA have earlier
signed a memorandum of understanding for the former to develop the proposed
six-MW Maris South Canal and 1.75-MW Maris North Canal mini-hydropower
projects.
In December 2013, the Department of
Energy (DOE) awarded a hydropower service contracts (HSC) for Maris Main Canal
1 to SN Aboitiz Power-Greenfield Inc.
SNAP-Greenfield then assigned the
HSC to SNAP-Magat, which was eventually granted by the DOE.
SNAP-Magat owns and operates the 360-MW Magat
hydroelectric power plant located at the border of Ramon, Isabela and Alfonso
Lista, Ifugao after a successful bid for the plant under the Philippine
government’s power sector privatization program in December 2006
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