SNAP Group inks MOA with RDC-CAR for energy-funded projects
In Photo: (Front row 3rd from left) SNAP-Benguet AVP and Plant Manager Hollis Fernandez; SNAP Group VP and Chief Corporate Affairs Officer James Manimtim; RDC-CAR Co-chairwoman Edna Tabanda; (back row 5th from left) RDC-CAR Vice Chairwoman and NEDA Regional Director Susan Sumbeling; and representatives from other power generation companies signed the memorandum of agreement (MOA) for the implementation of projects in the region under the DOE’s ER 1-94 program on June 13, 2024 in Baguio City.
Renewable energy providers SN Aboitiz Power-Benguet and SN Aboitiz Power-Magat (SNAP) have signed a memorandum of agreement (MOA) with the Regional Development Council-Cordillera Administrative Region (RDC-CAR). This agreement is between RDC-CAR and power generation companies in the region for the implementation of projects under the Department of Energy’s (DOE) Energy Regulation No. 1-94 (ER 1-94).
Present during the MOA signing held on June 13, 2024 in Baguio City were RDC-CAR Co-chairwoman Edna Tabanda, RDC-CAR Vice Chairwoman and National Economic and Development Authority (NEDA) Regional Director Susan Sumbeling; SNAP Group Vice President (VP) and Chief Corporate Affairs Officer (CCAO) James Manimtim; SNAP-Benguet Assistant Vice President and Plant Manager Hollis Fernandez; and representatives from other generation companies operating in CAR.
In a message read by Co-Chairwoman Edna Tabanda on behalf of RDC-CAR Chairman and Apayao Governor Elias Bulut, Jr., she said the agreement stands as a testament to the mutual commitment to ensuring the equitable distribution of financial benefits derived from businesses in the region.
Representing the generating companies, VP James Manimtim underscored how stakeholder partnerships can help accelerate sustainable development in the region. “This strengthens SNAP’s commitment to energizing a sustainable future,” he added.
The DOE’s ER 1-94 is a program that gives one-centavo share for every kilowatt-hour (PhP0.01/kWh) of the total electricity sales of a power-generating company to their host communities. Of the one centavo per kilowatt-hour, fifty percent (P0.005/kWh) will be used in the electrification of the community; twenty-five percent (P0.0025/kWh) will be earmarked for the Development and Livelihood Fund (DLF); and the other twenty-five percent (P0.0025/kWh) will be allocated for Reforestation, Watershed Management, Health and/or Environment Enhancement Fund (RWMHEEF). RDC-CAR is a beneficiary of SNAP-Benguet and SNAP-Magat under this program. (PR)
About SNAP Group:
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 800 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 businesses 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 Magat hydroelectric power plant which has a nameplate capacity of 360 MW and a maximum capacity of 388 MW on the border of Isabela and Ifugao; the 8.5-MW Maris hydro; and the 24-MW Magat battery energy storage facility in Isabela. The non-power components such as dams, reservoirs, and spillways are owned, managed, and operated by the government.
