Construction start of La Confluencia, Chile

In October, the construction of La Confluencia (158 MW/ 670 GWh), a joint venture between Pacific Hydro and SN Power, begins in Chile.

La Confluencia starts operation in 2011 and goes on to attain CDM-approval. Concurrently, the construction of a gas power plant (60 MW) starts in Colmito in Chile for use as a backup during dry spells.

SN Power also acquires Electroandes, a company operating four power plants in Peru with a total capacity of 180 MW/948 GWh.

In November, SN Aboitiz Power (SNAP) wins the bidding for the Ambuklao and Binga power plants in the Philippines.
Following rehabilitation, Ambuklao (105 MW) starts full operations in 2011. A number of corporate social responsibility projects commence in the region, while both power plants receive CDM-approval.

In addition, SNAP successfully manages to solve a 50 years-long conflict concerning compensation for the moving of the indigenous communities when the power plants were originally built.

Also, in 2007,¬† Magat hydropower plant reaches financial close as Asia’s first merchant project-financed project.