Singapore firm to supply SNAP with clean energy
By Jordeene B. Lagare – October 12, 2021
from The Manila Times
Singapore-based Nexif Energy said on Monday it clinched a deal to supply clean energy to SN Aboitiz Power (SNAP) for 10 years.
Under the power supply agreement (PSA) signed by both parties, SNAP will purchase most of the electricity and green certificates generated by Nexif Energy’s 75-megawatt peak (MWp) solar photovoltaic project in Calabanga, Camarines Sur.
According to the Nexif Energy website, the planned solar project will comprise fixed-tilt electric generation PV solar panel system which will be installed on a 65-hectare site adjacent to San Miguel Bay.
Engineering, procurement and construction (EPC), and operations and maintenance (O&M) contracts have been awarded to PowerChina Huadong Engineering Corp. and PowerChina Philippines Corp. for the construction and maintenance of the solar project.
The solar facility is expected to complete construction and start exporting electricity in the fourth quarter of 2022.
“Through this innovative PSA, we are offering SNAP a competitive advantage in serving its customers in the Philippines’ contestable retail electricity supply market. We are pleased to contribute to sustainable economic development in the Camarines Sur province and to the acceleration of the renewable energy market in the Philippines,” said Nexif Energy founder and Co-Chief Executive Officer (CEO) Matthew Bartley.
“We look forward to further supporting the contestable market in addition to participating in competitive selection processes (CSP) for the regulated market and the Government’s upcoming Green Energy Auction Program. We have a very favourable outlook on the Philippines’ power sector and are committed to facilitating the growth of the solar and wind industries in the country,” Nexif founder and Co-CEO Surender Singh said.
“In addition to being our first long-term PSA, this agreement strengthens our position in providing our customers with responsible energy. The additional power to be supplied by Nexif Energy’s Calabanga solar project will help us sustainably support our growing list of contestable customers,” said SNAP President and CEO Joseph Yu.
SNAP, a joint venture of listed Aboitiz Power Corp. and Norway-based renewable power producer Scatec, owns over 600 megawatts of hydropower capacity and is an active player in the retail electricity supply market.
Nexif Energy was established in August 2015 by Singapore-based independent power management company Nexif and Denham Capital, a global energy, resources and sustainable infrastructure investment firm with headquarters in Boston, Massachusetts. Its portfolio has a total capacity of 3,620 MW (net) with 490 MW operational or under construction at present.
