Norway, Feb. 3 -- SN Aboitiz Power (SNAP), Scatec ASA's joint venture with Aboitiz Renewables, inc., the renewable energy arm of Aboitiz Power Corporation in the Philippines, has reached financial close and prepares for construction start of the 40 MW Binga (phase 2) and 40 MW Ambuklao battery energy storage systems (BESS).The battery systems will be co-located with the Binga and Ambuklao hydro power plants in the province of Benguet, generating revenues from the reserves market. The new capacity is building on the success of the existing 24 MW BESS co-located with the Magat hydro power plant, which has been generating solid ancillary services revenues from the reserves market since the start of its operations in 2024. SNAP also has 40 MW a...