Renewable energy solutions provider SN Aboitiz Power Magat (SNAP-Magat) and the provincial government of Nueva Vizcaya have collaborated on an initiative to assist small business owners affected by COVID-19. Project PEACE, or “Provincial Economic Aid to COVID-affected Entrepreneurs,” is funded by SNAP-Magat’s Corporate Social Responsibility (CSR) program.
The first batch of 36 beneficiaries received cash assistance of Php5,000 to Php10,000 each on July 7, 2021, during a short program led by Nueva Vizcaya Governor Carlos Padilla. He was joined by Flordelina Granada and Jesusa Dayte of the Provincial Social Welfare and Development Office, SNAP-Magat AVP and Plant Manager Ed Bundalian, and Plant Support Services Manager Ness Adsuara.
The provincial government of Nueva Vizcaya has targeted distributing funds to close to 60 entrepreneurs, with the second batch scheduled to receive their cash assistance in the next month. Persons with disabilities (PWD), Pantawid Pamilyang Pilipino Program (4Ps), and senior citizen entrepreneurs are among those who will benefit from the project.
SNAP-Magat has committed a total of Php700,000 for the PEACE project. Since the pandemic hit the country last year, the company has provided PhP19 million worth of CSR COVID-19 response to Magat host communities in Cagayan, Ifugao, Isabela, and Nueva Vizcaya. The company’s CSR fund is part of its investment in community development, a voluntary yearly allocation for host communities through partnership programs.
SN Aboitiz Power-Magat (SNAP-Magat) is a joint venture of Scatec and Aboitiz Power Corporation (AP).
Scatec is a leading renewable power producer, delivering 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. Scatec 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-Magat owns and operates the Magat HEPP with a nameplate capacity of 360 megawatts (MW) and maximum capacity of 388 megawatts MW; and the 8.5-MW Maris HEPP. The non-power components such as dams, reservoirs, and spillways are owned, managed, and operated by the government.