Scatec JV Achieves Financial Close for 80 MW BESS Project in the Philippines
Scatec's joint venture, SNAP, has achieved financial close for an 80 MW battery energy storage system (BESS) in Benguet, Philippines, which will be co-located with the Binga and Ambuklao hydro power plants. This project adds to the existing 24 MW BESS at the Magat hydro power plant and is part of a broader initiative that will see a total of 160 MW of BESS capacity in construction and operation, enhancing grid stability as renewable energy use increases.
Theia Market Signal Identification - AI Assisted
Scatec's joint venture, SNAP, has reached financial close for an 80 MW battery energy storage system (BESS) in Benguet, Philippines. This system will be co-located with the Binga and Ambuklao hydro power plants, aiming to generate revenue from the reserves market.
The new capacity builds on the existing 24 MW BESS at the Magat hydro power plant, operational since 2024, which has been generating ancillary services revenues. Additionally, SNAP is developing 40 MW and 16 MW BESS systems at the Binga and Magat sites, respectively, slated for commercial operation later this year.
The total BESS capacity in construction and operation through SNAP in the Philippines will reach 160 MW. These projects will enhance the provision of ancillary services, critical for managing grid stability as renewable energy penetration increases.
Comments