Scatec ASA and Aboitiz Power have finalized financing for two battery energy storage projects in the Philippines and will soon begin construction. The projects include a 16 MW battery at the Magat hydropower plant (Phase 2) and a 40 MW system at the Binga hydropower plant. These storage systems will provide ancillary services to the grid, a growing market in the country as renewable energy adoption increases.
Scatec and Aboitiz Power already operate a 24 MW battery at Magat, which has delivered stable revenues since 2024. The new installations will bring their total storage capacity to 80 MW. CEO Terje Pilskog emphasized that these expansions will enhance the value of their hydropower assets and solidify their position as a key provider of ancillary services. The projects are financed through debt linked to the existing Magat and Binga hydropower facilities.