STATE-RUN Power Sector Assets and Liabilities Management Corp. (PSALM) said the 796.64-megawatt (MW) Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant (HEPP) complex in Laguna has attracted five potential bidders.
Marubeni Corp., Semirara Mining and Power Corp., Thunder Consortium, First Gen Prime Energy Corp., and Giga Ace 11, Inc. participated in the pre-proposal conference, PSALM said in a statement on Friday.
Thunder Consortium is composed of Aboitiz Renewables, Inc., Electric Power Development Co., and Sumitomo Corp.
PSALM said the conference provided participants with information about the CBK hydroelectric complex, including its technical specifications, operational details, and regulatory framework.
“We are pleased with the turnout and the level of interest shown by industry leaders in the CBK Plant Complex privatization,” PSALM President and Chief Executive Officer Dennis Edward A. Dela Serna said.
“Rest assured that we remain steadfast in our commitment to ensuring a fair and transparent bidding process that aligns with our mandate and at the same time provides maximum value to our stakeholders,” he added.
The CBK hydro facilities are currently under a 25-year build-rehabilitate-operate-transfer and power purchase agreement between independent power producer CBK Power Co. Ltd. and National Power Corp., which will expire in 2026.
These facilities include the 39.37-MW Caliraya HEPP in Lumban, the 22.91-MW Botocan HEPP in Majayjay, and the 366-MW Kalayaan I and 368.36-MW Kalayaan II pump storage power plants in Laguna.
The bidding is set to commence this year, with awarding targeted for 2025.
“PSALM continues to uphold transparency and integrity in its privatization efforts, seeking to partner with a qualified entity capable of leveraging the CBK Plant Complex’s potential to benefit consumers and advance the country’s energy goals,” the company said.
Finance Secretary Ralph G. Recto anticipates that the CBK privatization will generate up to P100 billion. — Sheldeen Joy Talavera