Scatec, a Norway-based renewable energy provider, and Aboitiz Renewables have secured a 20-year Power Purchase Agreement for a 68 MW floating solar project in the Philippines. This project falls under the Department of Energy’s Green Energy Auction Program 4. It will be developed through SN Aboitiz Power, a joint venture where Scatec holds a 50% stake. The facility is located on the Magat reservoir in Isabela province. It will connect to SNAP’s existing 388 MW hydropower plant and a 24 MW BESS. According to Scatec, this project shows how hybrid solar-hydro solutions can enhance grid stability while using minimal land. Construction is set to start in 2026, and commercial operations are expected in 2027. This project will help the Philippines meet its renewable energy goal of 50 percent by 2040.