ABOITIZ Power Corp. (AboitizPower) on Wednesday said that joint venture SN Aboitiz Power was set to start the development of two new battery energy storage systems (BESS) after both projects reached financial closing.
The two projects are the 40-megawatt (MW) BESS at the Binga hydroelectric power plant (Phase 2) and the 40-MW BESS at the Ambuklao hydroelectric power plant, within SN Aboitiz Power's existing hydro facilities.
AboitizPower said it could not disclose the total investment for both projects at the moment as it would be participating in competitive supply bids in the future.
The new capacity builds on SN Aboitiz Power's growing energy storage portfolio, including the 24-MW BESS at the Magat hydroelectric plant.
The joint venture also has additional BESS capacities under development that are scheduled to begin commercial operations later this year. These are a 40-MW BESS located at Binga and 16-MW BESS at Magat.
SN Aboitiz Power — a joint venture between Aboitiz Renewables Inc. and Norwegian firm Scatec ASA — secured financing for both in February last year.
Aboitiz Renewables is the renewable energy arm of AboitizPower.
AboitizPower shares rose by P0.45 to close at P44.35 apiece on Wednesday.
