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SN Aboitiz Power-Magat (SNAP-Magat) is proceeding with its plan to install a 67 megawatt (MW) floating solar power project on the Magat reservoir.
The company obtained approval from the board “for the project to proceed to the engineering design of 67MW,” Aboitiz Power Corp. said in its report.
SNAP is a joint venture between SN Power AS and the electricity company Aboitiz Power.
He said the planned 67MW has undergone an initial pre-feasibility study. The results of which have shown “positive results” and the company is now conducting a feasibility study to validate the initial results and confirm the viability of a commercial-scale project, which may have a capacity of 67MW or more.
The feasibility study is expected to last between 10 and 12 months. The cost of the project could be determined after the results of the study are published.
The new floating solar project will also be placed on the Magat reservoir. It should be remembered that SNAP launched its first 200 kilowatt floating solar project on the Magat reservoir in Isabela in June of last year.
This was SNAP’s first non-hydro renewable energy project, which was looking for other renewables and complementary technologies to expand its portfolio. SNAP said the floating solar project has proven its viability, both technical and commercial.
The 200kW floating solar project, which costs around P24 million, is made up of 720 solar panels supported by four mooring systems on the Isabela reservoir.
The company partnered with Ocean Sun, a Norwegian provider of floating solar technology, for the project.
