A joint venture between Scatec ASA (Scatec) and its local partner Aboitiz Renewables has secured a 20-year power purchase agreement (PPA) under the Philippines’ Green Energy Auction Programme 4 (GEA 4) for a 68 MW floating solar facility.
The project, to be developed through the joint venture entity SN Aboitiz Power (SNAP) – in which Scatec holds a 50 % stake – will be sited on the Magat reservoir in the province of Isabela.
The same reservoir already hosts a 388 MW impoundment hydropower plant, an 8.5 MW run-of-river hydro facility, and a 24 MW battery energy storage system (BESS).
Scatec’s Chief Executive Officer, Terje Pilskog, said: “This award further strengthens our platform in the Philippines and underlines our ability to scale innovative, hybrid renewable energy solutions.
Floating solar on hydropower reservoirs is a smart way to add clean capacity with minimal land use and strong grid integration.”
The new facility will contribute to the Philippines’ renewable-energy objectives of reaching a 35 % share by 2030 and 50 % by 2040.
It also aligns with Scatec’s strategy to expand its solar and storage portfolio in the country, where SNAP already has 56 MW of BESS under construction and a further 80 MW in backlog.
Financial close is expected in 2026, with construction to follow and commercial operation targeted for 2027.
The plant will utilise proven floating-solar technology with an established track record in Southeast Asia. Further details on capital expenditure and financing will be announced upon completion of the financial close.
