Manila Standard Today reported that SN Aboitiz Power Corporation, a JV between SN Power of Norway and Aboitiz Power Corporation, has expressed strong interest to build the Ilaguen hydropower and bulk water reservoir project in Isabela estimated to cost around PHP 12.9 billion.

Mr Emmanuel Rubio president of SN Aboitiz said that the company would initiate studies to validate the project’s viability. He added that "The original study from National Power Corporation says it can generate 88 MW, but we’re updating that. We have no estimates yet. We initially estimate to complete the feasibility study by the end of this year."

Mr Rubio said SN Aboitiz had applied for a service area permit with the Energy Department for the Ilaguen B hydro project. He said the company was open to talks with the service contract owner of the area for a possible joint venture if the holder of the concession had legal claims.

Mr Rubio said the province of Isabela tapped SN Aboitiz to take part in the project because of its expertise in hydropower development.

Aboitiz Power is the holding company for the Aboitiz Group’s investments in power generation and distribution while SN Power is a global renewable energy company owned by Norway’s Statkraft and Norfund.

Statkraft is Norway’s public power utility and Europe’s largest generator of renewable energy while Norfund is a leading Norwegian risk capital investor in emerging markets funded by the Norwegian government.

Mr Mike Hosillos VP for corporate services at SN Aboitiz said that the Ilaguen B project was in the early stage of development. He added that "What we are counting on is that we’re part of the convergence project and it's not like a simple plan where we need to just put up the facility. It will require a reservoir. The province of Isabela is really pushing for it."

The project will generate power for the towns of Ilaguen, San Agustin and Tumauini.

(Sourced from www.manilastandardtoday.com)