SN Aboitiz Power (SNAP) – a joint venture of SN Power of Norway and AboitizPower – has signed a framework agreement with the Municipal Government of Lamut in the Philippines for the planned Alimit hydropower complex, meaning all four of the local government units hosting the project have signified their approval for what is set to be Ifugao’s first large-scale hydropower facility.
The four governments involved are the Municipalities of Aguinaldo, Lagawe, Lamut, and Mayoyao. The agreements outline the cooperation, collaboration, and obligations between SNAP and the municipalities during the development and operation phase of the project
“We believe that meaningful collaboration with our stakeholders and communities can help propel our country toward a more energy-secure future,” said SN Aboitiz Power President and CEO Joseph S. Yu in a statement. “We are thankful for the support and trust that the concerned local government units of Ifugao have extended to SNAP and the Alimit Project.”
The Alimit hydro complex is to be developed in two phases, with the first consisting of the 120MW Alimit Plant and the 20MW Olilicon Plant. This first phase is expected to cost between US$450 to US$550 million. The second phase involves development of the 250MW Alimit pumped storage facility.
