2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures

SN Aboitiz Power, INC
Powering hydro capacity
In November
2007, SN Aboitiz
Power Hydro,
Inc., another joint
venture company
with SN Power of
Norway, placed
a winning bid
for the 75-MW
Ambuklao and
100-MW Binga
plants in Benguet.
Aboitiz Power Corporation (AP) continued to power
new frontiers in 2007 through the acquisition of hydro
assets privatized by the government as mandated by the
Electric Power Industry Reform Act (EPIRA).
The acquisitions were done through SN Aboitiz Power,
Inc., a joint venture company with SN Power of Norway,
a partnership that has proven to be an effective
collaboration, allowing synergy between AP’s extensive
local expertise and SN Power’s global experience.
This partnership led to a successful acquisition of the
360-MW Magat plant, which is located along the border of
Ramon, Isabela and Alfonso Lista, Ifugao. The plant is a key
power generation facility in the Luzon grid as it is capable
of providing various ancillary services, including black start
capacity.
The Magat plant currently provides power to various electric
cooperatives in Region II and to five pumping stations of the
National Irrigation Administration (NIA) in the region.
The 360 -MW Magat complex, located at the border between Ramon, Isabela and Alfonso Lista , Ifugao in Northern Luzon has a historical average annual
generation of 916 million kwh. It supplies irrigation to 85.000 hectares of mostly riceland.
34 • ABOITIZ POWER CORPORATION ANNUAL REPORT 2007