Renewable energy solutions provider SN Aboitiz Power Group signed power supply partnerships with Yuchengco-owned PetroGreen Energy Corp. and PetroSolar Corp. for retail electricity supply arm Magat-RES.
SNAP secured 27.5 megawatts with PGEC and 20 megawatts with PSC in pursuit of providing clean energy for its customers.
PGEC and PSC own and operate geothermal, wind and solar generation facilities across the Philippines.
“Partnerships and synergies are always in the market, but it is particularly exceptional when we do it with companies who share similar values, traits, and beliefs,” said SNAP Group president and chief executive Joseph Yu.
The signing ceremony on Jan. 31 signified the strong relationship established between the companies.
“It’s easy working with SNAP because we both have a clear understanding of our respective aspirations, and so we positively see areas for a winning partnership,” said PGEC president Milagros Reyes.
SNAP is a joint venture of Scatec and Aboitiz Power Corp.
“This partnership between SNAP and our companies is a fulfillment of our shared commitment of supporting energy security for the country through renewable energy,” Reyes said.
SNAP owns and operates the 112.5-MW Ambuklao and the 140-MW Binga hydroelectric power plants in Benguet; the 388-MW Magat hydroelectric power plant on the borders of Isabela and Ifugao; and the 8.5-MW Maris hydroelectric power plant in Isabela.