SNAP secures renewable energy supply deals with IFELCO, CAGELCO

Posted on February 07, 2022
news banner

Renewable energy solutions provider SN Aboitiz Power Group (SNAP) kicked off 2022 with power supply agreements (PSA) with two distribution utilities, Ifugao Electric Cooperative (IFELCO) and Cagayan II Electric Cooperative (CAGELCO II).

SNAP signed a nine-year PSA with IFELCO on January 20, marking the continuation of their partnership. IFELCO has been SNAP’s valued distribution utility (DU) partner since 2007.

SNAP Group President and CEO Joseph Yu, SNAP-RES CEO Senen Fenomeno, IFELCO Project Supervisor/Acting General Manager (PS/AGM) Romeo “Boyet” Acuesta, and IFELCO Board of Directors (BoD) Chairwoman Mary Jane Chummac led the virtual signing ceremony.

The ceremony was attended by representatives from the Department of Energy (DOE), the National Electrification Administration (NEA), IFELCO directors from across Ifugao province, and members of the SNAP and IFELCO management teams.

SNAP President and CEO Joseph Yu said, “IFELCO has been one of our longest DU partners, and this agreement represents both our organizations’ commitment to sustainability. Thank you for continuing to put your faith in us for your power needs— by choosing SNAP’s responsible energy, you are supporting our mission to power a more sustainable future.”

IFELCO BoD Chairwoman Mary Jane Chummac emphasized the significance of this agreement with SNAP. She stated that SNAP’s renewable energy supply had enabled them to provide clean, high-quality, and affordable electricity to their customers over the years.

“We thank you for this partnership not only with IFELCO but with the entire consumers of the province,” said IFELCO PS/AGM Boyet Acuesta.

SNAP also started implementing its PSA with CAGELCO II on January 26, its first supply agreement with the Cagayan distribution utility.

“SNAP remains committed to our mission by providing responsible, renewable energy solutions to our customers,” Yu said. “With our partnership with IFELCO, which spans over a decade, and new partnership with CAGELCO, we hope to enable more customers make the switch to renewables, in support of the government’s RE programs.”

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.