June 5, 2019 | 12:01 am
SN ABOITIZ Power (SNAP) on Tuesday
said it has signed a framework agreement with the Lamut municipal government
for the proposed Alimit Hydropower Complex in Ifugao province, and secured the
concurrence of the Lamut municipal council.
“With this, all four of the local
government units (LGU) hosting the Alimit Hydro, namely the Municipalities of
Aguinaldo, Lagawe, Lamut, and Mayoyao, have signified their approval for what
is set to be Ifugao’s first large-scale hydropower facility,” the joint venture
of Norway’s SN Power and Aboitiz Power Corp. said in a statement.
The agreement details the
“cooperation, collaboration, and obligations between and among SNAP as project
proponent and the municipalities as hosts during the development and operation
phase of the project.”
“We believe that meaningful
collaboration with our stakeholders and communities can help propel our country
toward a more energy-secure future. We are thankful for the support and trust
that the concerned local government units of Ifugao have extended to SNAP and
the Alimit Project,” SNAP President and CEO Joseph S. Yu was quoted as saying.
For the first phase, the
120-megawatt Alimit Plant and the 20-MW Olilicon Plant will be built. The
company is allocating between $450 to $550 million for the first phase.
The second phase involves the
construction of the 250-MW Alimit pumped storage facility.
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