SN Aboitiz Power (SNAP)-Magat said it has signed power supply agreements (PSA) with the Ifugao Electric Cooperative (IFELCO) and the Cagayan II Electric Cooperative (CAGELCO II) to provide clean power in their respective franchise areas.
Under its new nine-year PSA with IFELCO, SNAP-Magat would provide the electric cooperative (EC) with 7.5 megawatts (MW). SNAP-Magat has been in partnership with IFELCO since 2007.
The agreed terms are now up for the Energy Regulatory Commission’s approval.
SNAP President and CEO Joseph Yu said that the renewed agreement with IFELCO, one of its longest EC partners, represents both of the companies’ commitment to sustainability.
IFELCO board chairwoman Mary Jane Chummac said that SNAP’s renewable energy supply has allowed them to provide clean, high-quality, and affordable power to their consumers.
Meanwhile, SNAP-Magat has begun implementing its 10MW baseload capacity PSA with CAGELCO II – marking its first supply agreement with the EC. CAGELCO II serves 16 towns in northern Cagayan and four in northern Apayao.
SNAP-Magat, owner of the 380MW Magat Hydroelectric Power Plant on the Isabela-Ifugao border, is also a retail electricity supplier under the government’s Green Energy Option Program.