SNAP enters renewable energy deal with Nexif Energy

Posted on October 11, 2021
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Renewable energy solutions provider SN Aboitiz Power Group (SNAP) sealed a power supply agreement (PSA) with Nexif Energy, an independent power producer in Asia and Australia, through its solar power company Calabanga Renewable Energy (CaRE).

SNAP Group President and CEO Joseph Yu and CaRE President and Director Louie Andrew dela Cruz led the virtual ceremonial signing on October 8. They were joined by Nexif Energy Founder and Co-CEO Matthew Bartley, CaRE Chairman and Chief Technical Lead Thijs Sablerolle, SNAP-RES CEO Senen Fenomeno, and COO Berwyn Diño.

Under the agreement, SNAP shall be supplied by CaRE’s Calabanga Solar, a 75-MW photovoltaic facility in Calabanga, Camarines Sur, over the next ten years.

According to SNAP President and CEO Joseph Yu, the partnership with Nexif Energy demonstrates the company’s commitment to providing renewable energy to its customers.

“This is a significant milestone for us. In addition to being our first long-term PSA, this agreement strengthens our position in providing our customers with responsible energy. The additional power to be supplied by Nexif Energy’s Calabanga Solar will help us sustainably support our growing list of contestable customers,” Yu said.

Nexif Energy Founder and Co-Chief Executive Officer Matthew Bartley, said “Nexif Energy is delighted to enter into this partnership with SNAP on the Calabanga project. We look forward to a long and mutually beneficial relationship. We offer SNAP a competitive advantage in serving its customers in the contestable retail electricity supply market through this innovative power supply agreement. We are pleased to contribute to sustainable economic development in Camarines Sur province and accelerate the RE industry in the Philippines.”

The PSA will be in effect for ten years upon completion of the project by the end of 2022.

SNAP remains committed to its mission of powering positive change by supplying reliable, renewable power and providing innovative energy solutions to its customers. #

About SNAP:

SN Aboitiz Power (SNAP) is a joint venture of Scatec and Aboitiz Power Corporation (AP).

Scatec is a Norway-based leading renewable power producer that delivers affordable and clean energy worldwide. As a long-term player, Scatec develops, builds, owns, and operates solar, wind, and hydro power plants and storage solutions. It has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’.

AP is the holding company of the Philippines-based Aboitiz Group’s investments in power generation, distribution, and retail electricity services. It advances business and communities by providing reliable and ample power supply at a reasonable and competitive price, and with the least adverse effects on the environment and host communities.

SNAP owns and operates the 105-MW Ambuklao and 140-MW Binga hydroelectric power plants in Benguet; the Magat hydroelectric power plant which has a nameplate capacity of 360 MW and maximum capacity of 388 MW on the border of Isabela and Ifugao; and the 8.5-MW Maris hydro in Isabela. The non-power components such as dams, reservoirs, and spillways are owned, managed, and operated by the government.

About Nexif Energy:

Nexif Energy was formed in August 2015 by Nexif, a Singapore-based independent power management company, and Denham Capital, a leading global energy-focused private equity firm. Nexif Energy’s goal is to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Asia and Australia. For more information about Nexif Energy, visit www.nexifenergy.com