Monday, April 22, 2024

SNAP, NPC sign agreement for watershed conservation in Benguet

SNAP, NPC sign agreement for watershed conservation in Benguet

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SN Aboitiz Power Group (SNAP) is committed to providing clean and renewable energy while ensuring environmental sustainability in the areas where it operates. On November 7, 2023, SNAP signed a memorandum of agreement (MOA) with the National Power Corporation (NPC) for the adoption of a 1,000-hectare watershed area within the 2.5-kilometer radius from the Ambuklao and Binga reservoirs.

The signing was led by SNAP’s President and Chief Executive Officer (CEO) Joseph Yu and NPC President and CEO Fernando Martin Roxas at NPC’s head office in Quezon City.

SNAP and NPC have been partners in watershed and environmental initiatives since the signing of a Technical Cooperation Agreement in 2010. NPC turned over ownership and operation of the 112.5-megawatt (MW) Ambuklao and 140-MW Binga hydroelectric power facilities to SNAP in 2008 under the government’s privatization program. The dams and reservoirs remain under NPC’s ownership and management.

As outlined in the recently signed MOA, the adoption of the watershed area will harmonize SNAP’s watershed management programs to ensure greater conservation and protection of the Upper Agno River Watershed. The agreement covers the preservation of the 2.5-km area around the Ambuklao and Binga reservoirs and includes forest fire protection, rehabilitation and restoration activities, agroforestry, and riverbank stabilization. Since 2011, with the support of the local government and indigenous peoples’ organizations, SNAP and NPC have implemented various initiatives such as tree planting, biodiversity, reforestation, and watershed conservation.

The MOA is aligned with NPC’s Energy Sector Carbon Sequestration Initiative for the rapid rehabilitation of open and depleted areas in its watersheds. In 2022, under this initiative, SNAP agreed to rehabilitate and maintain 50 hectares within the Upper Agno River Watershed, of which 20 hectares have been completed. It is also in line with SNAP’s commitment to strengthen its sustainability efforts by embedding environmental, social, and governance principles in its operations.

SNAP, together with its community development partners will help in reducing the effects of climate change, increasing biodiversity, and protecting water resources to create a sustainable energy future.

About SNAP Group:

AN Aboitiz Power Group (SNAP) is a joint venture of Scatec and Aboitiz Power Corporation (AP).

Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, they develop, build, own and operate renewable energy plants, with 4.6 GW in operation and under construction across four continents today. They are committed to growing their renewable energy capacity, delivered by their 800 passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’.

AP is the holding company of the Philippines-based Aboitiz Group’s investments in power generation, distribution, and retail electricity services. It advances business and communities by providing reliable and ample power supply at a reasonable and competitive price, and with the least adverse effects on the environment and host communities.

SNAP owns and operates the 112.5-MW Ambuklao and 140-MW Binga hydroelectric power plants in Benguet; the Magat hydroelectric power plant which has a nameplate capacity of 360 MW and maximum capacity of 388 MW on the border of Isabela and Ifugao; and the 8.5-MW Maris hydro in Isabela. The non-power components such as dams, reservoirs, and spillways are owned, managed, and operated by the government.