Ambuklao hydropower plant opened

27-10-2011

SN Aboitiz Power (SNAP), a daughter company of SN Power has fully commission the 105-megawatt Ambuklao hydroelectric power plant in the Philippines.

When SNAP bought the Ambuklao Plant in 2008, it had been shut down for close to nine years due to technical problems sustained after a major earthquake in 1990.

Several unsuccessful attempts were made by the previous owner to restore the capacity of the plant.

After three years of rehabilitation and refurbishment of the plant, SNAP has managed to increase the power output from the original 75-MW to today`s105-MW.

“From today on the Ambuklao plant will provide clean and renewable energy to millions of Filipinos. This rehabilitation sets another milestone in the Philippine hydropower industry as the first of its kind in terms of scope and magnitude,” CEO of SN Power Torger Lien said.

The Ambuklao plant is now also registered under the Clean Development Mechanism (CDM) and expected to generate 180,000 carbon credits (CERs).

With the theme “The Power to Renew,” the inauguration of the Ambuklao plant will highlight SNAPs passion for innovation and excellence, renew its pledge for the development of surrounding communities, and honor the rich indigenous culture of the residents of Benguet.

SN-Aboitiz is a joint venture between Aboitiz Power Corp and SN Power.

SN Power is a hydropower development company, operating exclusively in emerging markets. The company is a joint venture between Statkraft and Norfund and has projects and operations in Asia, Latin America and Africa. SN Power is working to develop a portfolio in the range of 3000 MW of hydropower plants by 2015, while combating climate change and contributing to sustainable development. SN Power has over 400 people employed in twelve countries around the globe. Its headquarters are in Oslo, Norway.  As of December 2010, SN Power reported US$1.7 billion in total assets and US$1.3 billion in equity on a consolidated basis.