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SN Aboitiz to proceed with Magat battery energy storage project on March 8, 2021 at 11:31 am
SN Aboitiz Power Group (SNAP), the joint venture company of Aboitiz Power Corporation and SN Power of Norway, will push through with its planned pilot battery energy storage system (BESS) in the Magat Hydroelectric Power Plant complex at the Isabela-Ifugao area.
Based on a report by The Philippine Star, SNAP President and CEO Joseph Yu said the company is working on an energy storage system with a 20-megawatt (MW) capacity and 20-megawatt hour energy storage particularly in Ramon, Isabela. The project would be used primarily for ancillary services.
PCC OKs SN Power buyout on January 20, 2021 at 8:00 pm
The Philippine Competition Commission (PCC) has cleared the entry of a Norwegian green energy firm into the Philippine market.
The antitrust regulator approved last week the acquisition by Scatec Solar ASA of 100% shares in SN Power AS from Norfund of the Norwegian government. Scatec decided to purchase SN Power in October 2020 as part of its goal to improve capacity to 1.9 gigawatts across the globe in 2021.
In authorizing the buyout, the PCC concluded that competition in the renewable energy (RE) generation and power supply markets will stay in spite of the transaction. The agency further pointed out that there is no horizontal or vertical relationship between the acquiring party and the acquired firm, including the entities they operate.