Renewable energy developer SN Aboitiz Power Corp. disclosed its plan to build 25 megawatts to 50 MW of ground-mounted and floating solar projects annually.
“I’d like to at least have maybe 50 MW a year, 25 MW to 50 MW a year, that we could trade,” SN Aboitiz president and chief executive Joseph Yu said.
He said the renewable energy expansion would continue “as long as the market could bear it.”
“And I would look at the whole portfolio, and look at the balance between what’s solar,” Yu said.
He said SN Aboitiz will also continue developing hydro projects and possibly wind projects. “SNAP has never dabbled on wind, onshore or offshore. But if it’s there we can put resources on that,” Yu said.
He said SN Aboitiz was also eyeing battery energy storage systems.
Yu said the company was conducting a stress test and feasibility study on its 200-kilowatt pilot floating solar project located at the Magat Reservoir, the biggest floating solar project in the country so far. SNAP-Magat invested nearly P24 million in the facility, which is placed over a 2,500-square meter area over the Magat Reservoir.