A unit of Aboitiz Power Corp. has inaugurated a project backed by the Norwegian government, a P2.15-billion 8.5-megawatt plant that harnesses power from irrigation released from the Magat Dam.

SN Aboitiz Power-Magat Inc., a joint venture of the Aboitiz group and the Oslo-based SN Power AS, on Thursday switched on the Maris (Magat River Irrigation System) main canal hydroelectric power plant with representatives from the government of Norway in attendance. Read More @ http://business.inquirer.net/244804/aboitiz-firm-switches-norway-backed-hydropower-plant @ http://business.inquirer.net/244804/aboitiz-firm-switches-norway-backed-hydropower-plant

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SN Power is fully owned by the Norwegian Investment Fund for Developing Countries (Norfund), which is in turn owned by the Norwegian Ministry of Foreign Affairs.

Read more: http://business.inquirer.net/244804/aboitiz-firm-switches-norway-backed-hydropower-plant#ixzz55pt2BHdY
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