SN Aboitiz Power bags funding for 56 MW of battery storage projects

This covers two  projects in Isabela and Benguet.

SN Aboitiz Power Group (SNAP) has secured financing for the expansion of its two battery energy storage systems (BESS).

In a bourse filing, the company said Bank of the Philippine Islands (BPI), and China Banking Corporation are set to finance the 16-megawatt (MW) Magat BESS Phase 2, whilst BPI and Banco de Oro Unibank, Inc. will provide financing for the 40-MW Binga BESS.

The projects will be co-located with the Magat hydroelectric power plant in Isabela and the Binga hydroelectric plant in Benguet.

These are expected to be completed by 2026. The engineering, procurement, and construction contracts for both the Magat BESS Phase 2 and Binga BESS have been awarded to GEDI China Energy, a subsidiary of China Energy Engineering Group.

SNAP’s first energy storage project, the 24-MW Magat BESS, began commercial operation in the reserve market for ancillary services in January 2024.