Scatec JV reaches financial close for 80 MW BESS in the Philippines and prepares for construction start Stocks Bonds master_of_puppetsTue 03/02/2026 – 11:18 NO0010715139 NO0012837030 NO0013144964 NO0013476101 NO0013696435 Scatec JV reaches financial close for 80 MW BESS in the Philippines and prepares for construction start 03/02/2026 – 11:16 Oslo Scatec JV reaches financial close for 80 MW BESS in the Philippines and prepares for construction start Inside information 90000-664722 Oslo Børs Newspoint Scatec ASA Euronext Oslo Børs Published 65101010 Alternative Electricity XOSL XOSL XOSL XOSL XOSL Language English Oslo/Manila, 03 February 2026: SN Aboitiz Power (SNAP), Scatec ASA’s jointventure with Aboitiz Renewables, inc., the renewable energy arm of AboitizPower Corporation in the Philippines, has reached financial close and preparesfor construction start of the 40 MW Binga (phase 2) and 40 MW Ambuklao batteryenergy storage systems (BESS).The battery systems will be co-located with the Binga and Ambuklao hydro powerplants in the province of Benguet, generating revenues from the reservesmarket. The new capacity is building on the success of the existing 24 MW BESSco-located with the Magat hydro power plant, which has been generating solidancillary services revenues from the reserves market since the start of itsoperations in 2024. SNAP also has 40 MW and 16 MW of BESS capacity currentlyunder construction at the Binga and Magat hydro power plants respectively,planned to come into commercial operation later this year. The total BESScapacity in construction and operation through SNAP in the Philippines is now160 MW.Batteries are optimal for ancillary services due to their fast response timeto correct real-time fluctuations in grid frequency, flexibility to performmultiple grid services, and cost competitiveness. Ancillary services will beincreasingly important over time in the Philippines due to higher penetrationof intermittent renewables driven by the government’s ambitious renewablestargets.”We are very excited to start construction of two additional BESS projects inthe Philippines. With the new batteries we will increase our operational BESScapacity in the Philippines sixfold over the next year, increasing the valueof our multi-technology asset portfolio and strengthening our position as aleading provider of ancillary services in the country,” says CEO TerjePilskog.The projects are owned by SNAP, a joint venture between Scatec and AboitizPower Corporation. The projects will be financed through project debt drawnunder debt facilities arranged with SNAP’s existing lenders in thePhilippines.For further information, please contact:For analysts and investors:Andreas Austrell, SVP Investor Relationsandreas.austrell@scatec.com+47 974 38 686For media:Meera Bhatia, SVP External Affairs & Communicationsmeera.bhatia@scatec.com+47 468 44 959About ScatecScatec is a leading renewable energy solutions provider, accelerating accessto reliable and affordable clean energy in emerging markets. As a long-termplayer, we develop, build, own, and operate renewable energy plants, with 6.2GW in operation and under construction across five continents today. We arecommitted to grow our renewable energy capacity, delivered by our passionateemployees and partners who are driven by a common vision of Improving ourFuture’. Scatec is headquartered in Oslo, Norway and listed on the Oslo StockExchange under the ticker symbol SCATC’. To learn more, visit www.scatec.com />or connect with us on LinkedIn.This information has been submitted pursuant to the Securities Trading Act §5-12 and MAR Article 17. The information was submitted for publication,through the agency of the contact persons set out above, at 2026-02-03 11:16CET.More information:Access”>https://newsweb.oslobors.no/message/664722″>Access the news on Oslo Bors NewsWeb site SCATEC ASA Scatec ASA 23/27 FRN C Scatec ASA 24/28 FRN FLOOR C Scatec ASA 25/29 FRN FLOOR C Scatec ASA 25/30 FRN FLOOR C Scatec ASA 209505 NO0010715139-XOSL NO0012837030-XOSL NO0013144964-XOSL NO0013476101-XOSL NO0013696435-XOSL SCATC
Source: NewsData