Corporate Finance Manager  

WHO WE ARE SN Aboitiz Power Group or SNAP is the collective name of the power generation arm (SN Aboitiz Power-Magat, Inc. and SN Aboitiz Power-Benguet, Inc.) and power retailing arm (SN Aboitiz Power-RES, Inc.) of the business. Through its power generating unit, SNAP develops and operates world-class renewable energy facilities in the Philippines; and by means of its power retailing arm, SNAP provides innovative energy solutions to its customers. It is a recipient of several local awards and citations for its safety records, community programs, stakeholder relations, and environmental campaigns. It has also received international recognition in the Asian region for privatization and project financing as well as for its plants’ performance as independent power producers. With 641.5 MW of total capacity, SNAP harnesses the energy of flowing water to generate clean, renewable energy for its customers. WHAT WE DO Magat Hydro is one of the largest hydro facilities in Luzon, with a gross maximum capacity of 388 MW. It draws water from the Magat River through the multipurpose Magat Dam. Under the power restructuring law, the power facility was privatized in 2006. Following the successful bid of US$530 million, SNAP took over operations on April 26, 2007. The 8.5-MW Maris Hydro is the first power plant constructed by SNAP. Construction of the PHP2.5 billion run-of-river hydro plant took about two years—it broke ground in late 2015 and was completed in November 2017. Maris hydro utilizes water coming from Magat hydro. At its original capacity of 75 MW, Ambuklao Hydro was one of the first large hydroelectric power plants in the Philippines and is one of the oldest. In 2008, SNAP took over Ambuklao and the 100-MW Binga Plant after a winning bid of US$325 million under the privatization program. Ambuklao hydro re-operated in 2011 as a 105-MW power plant following its rehabilitation and upgrading. Binga Hydro was built in 1960 and lies 19 kilometers downstream of its sister facility, Ambuklao. It was bid out along with Ambuklao; but only the power components were privatized while the dams remain government-owned. Binga hydro underwent a refurbishment which began in 2010 and was completed in 2013. This increased the plant’s capacity from 100-125 MW. It is now capable of generating 140 MW after further uprating. With the advent of open access in the Philippines, customers with a monthly average peak demand of 750kW and above can choose a Retail Electricity Supplier through the Open Access market. SNAP-RES was formed into the group for the Retail Electricity Market. SNAP-RES continues to serve the needs of Contestable Customers by focusing on the requirements of each industry and delivering innovative solutions for each customer profile since 2011. SN Aboitiz Power (SNAP) is a joint venture of Scatec and Aboitiz Power Corporation (AP). Scatec is a Norway-based leading renewable power producer that delivers affordable and clean energy worldwide. As a long-term player, Scatec develops, builds, owns, and operates solar, wind, and hydropower plants and storage solutions. On the other hand, Aboitiz Power Corporation is a wholly-owned subsidiary representing the consolidated electricity interests of the Aboitiz Group—one of the largest conglomerates in the Philippines focusing on the electricity, financial, and food sectors. Aboitiz has been involved in the Philippine electricity industry since the 1930s.