SN Aboitiz Power, a joint venture (JV) between the two companies, is expected to bid for the Angat Hydroelectric Plant located in San Lorenzo, Bulacan. The JV operates the Aboitiz Group’s hydro power business, which has a total capacity of approximately 500MW.
Earlier this month, the board of Aboitiz Power approved to raise approximately $220m for project acquisitions. The Angat plant has attracted interest of local companies including Metro Pacific Investment and Ayala. It started commercial operation in 1967.
In an effort to improve efficiency of the energy sector and reduce debt of state-run National Power, Philippines has started privatizing its power assets.
Headquartered in Oslo, Norway, SN Power operates hydropower plants in South America and Asia, and is expanding into Africa through a separate subsidiary, SN Power AfriCA.
