5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

SN Aboitiz Power starts construction of battery storage project in Benguet

by
March 25, 2025
in Stock
0
SN Aboitiz Power starts construction of battery storage project in Benguet

SN Aboitiz Power starts construction of battery storage project in Benguet – BusinessWorld Online


      
      
      
      
      








(L-R) Scatec EVP-Asia Andy Ana, SNAP President and Chief Executive Officer Joseph Yu, Norwegian Ambassador to the Philippines Christian Lyster, Energy Assistant Secretary Mario Marasigan, and Itogon Mayor Bernard Waclin.

SN Aboitiz Power (SNAP) Group, a joint venture between Norwegian firm Scatec and Aboitiz Power Corp., has started construction of its 40-megawatt (MW) Binga battery energy storage system (BESS) in Itogon, Benguet.

In a media release on Tuesday, the company said it had broken ground on the facility, which will be co-located with the 140-MW Binga Hydroelectric Power Plant.

The Binga BESS is SNAP’s first battery storage project in Benguet and its third overall.

“We are proud to break ground on our first BESS in Benguet and the first BESS facility to reach financial close and start construction in the Cordillera Administrative Region. This project underscores our commitment to innovation, sustainability, and the country’s energy transition,” SNAP President and Chief Executive Officer Joseph Yu said.

The company said the project is part of its strategy to integrate complementary technologies with its hydro assets, contributing to a more resilient and secure energy market in the Philippines.

A BESS stores electricity from the grid using batteries and releases it when needed to support supply or enhance power quality. It helps stabilize the grid by managing fluctuations in renewable energy generation.

SNAP tapped GEDI China Energy as the engineering, procurement, and construction contractor for the Binga BESS.

The project adds to SNAP’s 24-MW Magat BESS and the ongoing development of the 16-MW Magat BESS Phase 2, bringing the company’s total battery storage capacity to 80 MW by 2026.

Last month, SNAP secured financing from the Bank of the Philippine Islands, China Banking Corp., and BDO Unibank, Inc. for the Binga BESS and 16-MW Magat BESS. — Sheldeen Joy Talavera

CEDTyClea

RELATED ARTICLESMORE FROM AUTHOR




MORE STORIES


Previous Post

Embracing our identity as a maritime nation

Next Post

Presenting a woman in progress

Next Post
Presenting a woman in progress

Presenting a woman in progress

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    How The Canadian Academy of Osteopathy Is Reshaping Osteopathic Education

    How The Canadian Academy of Osteopathy Is Reshaping Osteopathic Education

    July 14, 2025
    30 manufacturing projects in the works

    30 manufacturing projects in the works

    July 14, 2025
    PHL banks fail to meet MSME lending quota in Q1

    PHL banks fail to meet MSME lending quota in Q1

    July 14, 2025
    Experts say Philippines now ‘back on the radar’ of Taiwanese firms

    Experts say Philippines now ‘back on the radar’ of Taiwanese firms

    July 14, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.