SN Aboitiz Power - Magat, Inc.

SNAP-MAGAT is the joint venture between Aboitiz Power Corporation and SN Power Invest AS of Norway.

On December 14, 2006 it submitted the highest bid for the purchase of the 360-megawatt Magat Hydroelectric Power Plant and was subsequently awarded as winning bidder on January 9, 2007. On April 26, 2007 the Power Sector Assets and Liabilities Corporation (PSALM) turned over the control of the plant to SNAP.

The facility draws water from the Magat Dam and operates as a peaking plant that sells energy through the Wholesale Electricity Spot Market (WESM). The water that is released from the plant is then used to irrigate approximately 85,000 hectares of riceland. Because the plant has the flexibility of choosing the quantity and time of power delivery, the plant maximizes revenue by producing and selling energy at the peak times of the day, when power prices are highest. Throughout its history the facility has generated an annual average of 929 Gigawatthours.

In addition to selling energy, the plant is also capable of providing various ancillary services. WESM is in the process of creating an ancillary services market; Magat is expected to actively participate in this market when it is established.

SNAP is currently conducting several feasibility studies to increase efficiency, optimize production and expand the capacity of this facility.

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