Oslo, 15 May 2026: Scatec ASA's joint venture with Aboitiz Power in the
Philippines has started commercial operation of the 16 MW Magat battery energy
storage system (Magat BESS 2).
The battery system is connected to the Magat hydro power plant and will
generate revenues from the highly attractive ancillary services reserves
market. The new capacity builds on the success of the existing 24 MW BESS
connected to the Magat power plant, which has generated solid ancillary
services revenues since start of operation in 2024.
1-hour batteries are well suited for ancillary services due to their fast
response time to support grid frequency stability, flexibility to perform
multiple grid services, and cost competitiveness. Ancillary services are
expected to become increasingly important in the Philippines as renewable
energy penetration increases in line with the government's renewable energy
ambitions.
| "Starting commercial operation of Magat BESS 2 further strengthens our
| position within battery storage and ancillary services in the Philippines.
| We now have 40 MWh operating battery capacity and another 120 MWh under
| construction. The project builds on the successful operating track record of
| the existing Magat battery system and demonstrates our ability to develop
| flexible energy infrastructure supporting grid reliability and renewable
| energy integration," says CEO Terje Pilskog.
The project is owned by Scatec's 50/50 joint venture with Aboitiz Power in the
Philippines. The project was financed through debt facilities related to the
Magat hydro power plant.
For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP Investor Relations
andreas.austrell@scatec.com
For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com
About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access
to reliable and affordable clean energy in emerging markets. As a long-term
player, we develop, build, own, and operate renewable energy plants, with 6.4
GW generation and 2 GWh storage capacity in operation and under construction
across five continents. We are committed to growing our renewable energy
portfolio, delivered by our passionate employees and partners who are driven
by a common vision of Improving our Future'. Scatec is headquartered in Oslo,
Norway and listed on the Oslo Stock Exchange under the ticker symbol SCATC'.
To learn more, visit www.scatec.com or connect with us on LinkedIn.
This information is subject to disclosure under the Norwegian Securities
Trading Act, ยง5-12. The information was submitted for publication, through the
agency of the contact persons set out above, 15.05.2026 12:20 CEST.