SN Aboitiz Power (SNAP) said it had taken a step closer to the development of the Alimit Hydropower Complex, the first such facility to be built in Ifugao, as it signed last week a framework agreement with the town governments of Aguinaldo, Lagawe and Mayoyao.
In a statement, SNAP said the agreement outlined the cooperation, collaboration and obligations between SNAP, as the project proponent, and the towns as hosts during the development and operation phase of the project.
“It took us four years to achieve this milestone. What we are trying to build here are a partnership and a relationship with our stakeholders,” SNAP president and CEO Josep Yu said.
SNAP was issued the renewable energy service contract for the Alimit project in 2014, which is currently undergoing permitting and further feasibility studies.
The project will not only increase power supply in the area, but also improve the irrigation system, add tax revenues and raise employment opportunities.
Alimit is also expected to add at least 140 MW of power generation capacity to SNAP’s portfolio, including 20 MW from a planned unit named after Barangay Ollilicon in Lagawe and 120-MW unit named after Barangay Alimit in Mayoyao.
SNAP, which has an all-hydro portfolio, is a joint venture between SN Power of Norway and Aboitiz Power Corp.