SN Aboitiz Power-Benguet Inc. (SNAP-Benguet), a joint venture of Scatec and Aboitiz Power Corp.,signed a MOA on increased benefits with the Tinongdan Indigenous Peoples Organization (TINPO) and the Itogon Indigenous Peoples Organization (IIPO). Know more:
SN Aboitiz Power-Benguet Inc. , a joint venture of Scatec and Aboitiz Power Corp., signed a memorandum of agreement on increased benefits with the Tinongdan Indigenous Peoples Organization and the Itogon Indigenous Peoples Organization .
The agreed total benefits include 1.65 c/kWh from the plant’s annual production and an annual special fund of P1 million for partnership projects promoting indigenous culture. This is in addition to the existing benefits provided since 2008 which now amounts to P3.8 million. SNAP will also voluntarily provide a one-time benefit of P6.1 million or equivalent to 1.65c/kWh of its 2021 production, the year when negotiations started. The IPs also stand to receive an additional P6 million, representing 1.65c/kWh of SNAP’s 2022 production and the adjusted value of its 2022 Corporate Social Responsibility fund.
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