SANTIAGO CITY, Isabela—Energy Secretary Alfonso Cusi led the 10th anniversary celebration of SN Aboitiz Power-Magat Inc. on Wednesday in Ramon, Isabela.
In his keynote address, Secretary Cusi noted that the country sources 32 percent of its power from renewable energy, which is relatively higher than most countries in Asia. Though he wants this to continue, Cusi stressed that the DoE adopted a “technology-neutral” policy toward power to increase supply and make prices more reasonable.
Cusi said: “Integrated energy-water-food projects like hydro-electric dams is among the key strategy to achieve its sustainable development goals under the administration of President Rodrigo Duterte.”
Hailing Magat hydro as an example of “a nexus of water, food and electricity,” Cusi encouraged more sustainable projects that help not just the community but the whole country.
“We are open for business, DoE will provide a conducive environment while protecting the interest of the public,” Cusi added.
He also invited the private sector to explore investment opportunities to support Ambisyon Natin 2040, the country’s development vision under the Presidency of Mayor Duterte.
SNAP president and CEO Joseph Yu said, “We chose our theme ‘Power to Sustain’ to re-dedicate ourselves to contributing to the sustainability not only of our business, but also of the environment, host communities, and partners.”
The anniversary celebration was also graced by Norway Ambassador Erik Forner, members of the company, and representatives from host local government units led by Mayor Norma Miguel of Diadi, Nueva Vizcaya; Mayor Jesus Laddaran of Ramon, Isabela and Mayor Glen Prudenciano of Alfonso Lista, Ifugao; units and other stakeholders.
Magat hydro draws water from the Magat Dam, which has the primary purpose of irrigating about 85,000 hectares of agricultural lands in Cagayan Valley.
SNAP-Magat, a joint venture between SN Power of Norway and AboitizPower, took over Magat Hydroelectric Power Plant on April 26, 2007 following a successful bid and privatization process.
SNAP-Magat has a dependable capacity of 380 MW and is targeting the completion of an 8.5 MW run-of-river hydropower plant along Maris Canal in Brgy. Ambatali, Ramon later this year.