SNAP-Benguet joins electricity spot market
SN Aboitiz Power-Benguet Inc. (SNAP-Benguet), a joint venture between Norway’s SN Power and Aboitiz Power Corp., has joined other power generators as a seller at the wholesale electricity spot market (Wesm), starting with 35 megawatts (MW) from its recently recommissioned 75-MW Ambuklao hydropower facility.
The company’s certificate of registration as a Wesm participant took effect last Wednesday.
Following the turnover of the Ambuklao-Binga power complex to the company in July 2008, the Ambuklao facility was subjected to rehabilitation work worth $170 million to restore it and boost its generation capacity to 105 MW from 75 MW.
Works to restore and upgrade the capacity of the Binga plant from the original 100 MW to 120 MW, on the other hand, are ongoing, with the commissioning target set for within three to four years.
In a related development, another Aboitiz firm, SNAP-Magat Inc., will be expanding the 360-MW Magat hydropower plant by at least 100 MW.
The Ambuklao-Binga and Magat hydropower facilities were formerly owned by the National Power Corp., and which the Aboitizes and their partners acquired through the Power Sector Assets and Liabilities Management Corp.’s privatization exercise.
