Renewable energy solutions provider SN Aboitiz Power Group (SNAP) has entered into power supply partnerships with PetroGreen Energy Corporation (PGEC) and PetroSolar Corporation (PSC) for SNAP’s Retail Electricity Supply arm Magat-RES.
The Yuchengco-led renewable energy producers PGEC and PSC own and operate geothermal, wind, and solar generation facilities across the Philippines.
Present during the signing ceremony were SNAP Group President and CEO Joseph Yu, SNAP-RES CEO Senen Fenomeno, PSC and PGEC President Milagros Reyes, PSC and PGEC VP & COO Francisco Delfin, Jr.
The signing ceremony held on January 31, 2023 signified the strong relationship that has been established between the companies. “It’s easy working with SNAP because we both have a clear understanding of our respective aspirations, and so we positively see areas for a winning partnership,” said Ms. Reyes.
In pursuit of providing Responsible Energy for its customers, SNAP secured 27.5 MWdc with PGEC and 20 MWdc with PSC. “Partnerships and synergies are always in the market, but it is particularly exceptional when we do it with companies who share similar values, traits, and beliefs,” said Mr. Yu as he highlighted the growing partnership with PetroSolar.
Likewise, Ms. Reyes expressed her gratitude to SNAP for the continued trust. “This partnership between SNAP and our companies is a fulfillment of our shared commitment of supporting energy security for the country through renewable energy.” #
SN Aboitiz Power (SNAP) is a joint venture of Scatec and Aboitiz Power Corporation (AP).
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, they develop, build, own and operate renewable energy plants, with 4.6 GW in operation and under construction across four continents today. They are committed to growing their renewable energy capacity, delivered by their 700 passionate employees and partners who are driven by a common vision of ‘Improving our Future’. 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 112.5-MW Ambuklao and 140-MW Binga hydroelectric power plants in Benguet; the 388-MW Magat hydroelectric power plant on the border of Isabela and Ifugao; and the 8.5-MW Maris hydroelectric power plant in Isabela.