Scatec Shares Rise: Scatec and Aboitiz Renewables Launch 80 MW Battery Storage at Hydropower Plants in the Philippines
Oslo (Norway) - The joint venture SN Aboitiz Power (SNAP), a partnership between Norway’s Scatec ASA and the Philippines’ Aboitiz Renewables, Inc., has reached financial close for two battery energy storage system (BESS) projects of 40 MW each and is preparing to begin construction of the Binga (Phase 2) and Ambuklao facilities in Benguet Province.
Scatec’s shares, which are listed in the global renewable energy stock index RENIXX, rose by 1.5 percent in yesterday‘s trading to above EUR 10.13.
The new BESS projects build on the success of the existing 24 MW BESS at the Magat hydropower plant, which has been generating stable revenues from ancillary services since 2024. SNAP also has 40 MW and 16 MW BESS projects under construction at the Binga and Magat hydropower plants, which are scheduled to enter commercial operation later this year. This will increase SNAP’s total battery storage capacity in the Philippines to 160 MW.
“We are very excited to start construction of two additional BESS projects in the Philippines,” said CEO Terje Pilskog. “With the new batteries we will increase our operational BESS capacity in the Philippines sixfold over the next year, increasing the value of our multi-technology asset portfolio and strengthening our position as a leading provider of ancillary services in the country.”
Battery storage systems are particularly well suited for frequency regulation, as they can respond very quickly to grid frequency fluctuations, flexibly provide multiple grid services, and are economically competitive. As the share of variable renewable energy increases, ancillary services are becoming increasingly important in the Philippines.
The projects will be operated by SN Aboitiz Power and financed through existing credit facilities of SNAP’s lenders in the Philippines.
Source: IWR Online, 04 Feb 2026
