Listed firm Aboitiz Power Corp. diclosed Monday that its affiliate, SN Aboitiz Power—Benguet Inc. (SNAP-Benguet), has completed rehabilitation works on the Binga hydroelectric power plant in Itogon, Benguet.
The undertaking was part of the $280-million upgrade for the whole Ambuklao-Binga hydroelectric power complex.
In a disclosure to the Philippine Stock Exchange, Aboitiz said SNAP-Benguet received Monday a copy of the certificate of compliance (COC) from the Energy Regulatory Commission (ERC) for all four units of the refurbished Binga power plant.
The COC, which is valid for five years from the date of issuance, certified that the company has satisfactorily delivered the expected upgrade on the facility.
The Binga hydroelectric plant has a power generation capacity of 125.8 MW.
Aside from the Binga plant, the Ambuklao-Binga hydroelectric power complex also includes the Ambuklao facility in Bokod, Benguet.
Back in 2007, SNAP-Benguet submitted the highest bid of $325 million for the acquisition of the Ambuklao and Binga hydroelectric power plants, which were tendered in a package through the power sector privatization program.
In 2008, SNAP-Benguet began the rehabilitation and upgrading of Ambuklao, which had been mothballed since 1999. Ambuklao was upgraded successfully from 100 to 105 MW and officially inaugurated in October 2011.
In 2010, SNAP-Benguet embarked on the refurbishment program for Binga, which consisted of building a new intake, modernization of the control system and upgrading of the turbine units—resulting in a practically brand new power facility.
The refurbishment of Binga’s Unit 4 was completed in December 2011 and Unit 1 was completed in July 2012. Work on the two other units were recently completed.
SNAP-Benguet is a joint venture between SN Power of Norway and the Aboitiz group.