overlooks Laguna de Bay.—ABOITIZ POWER CORP.
THE GOVERNMENT has officially turned over the 797-megawatt (MW) Caliraya-Botocan-Kalayaan hydroelectric power plant (CBK HEPP) complex in Laguna to a consortium led by Aboitiz Renewables, Inc., the renewable energy arm of Aboitiz Power Corp. (AboitizPower).
This follows Thunder Consortium’s winning of the bidding process conducted by state-run Power Sector Assets and Liabilities Management Corp. (PSALM) last year, after offering a P36.27-billion bid.
Aboitiz Renewables holds a 64% stake in Thunder Consortium, which also includes Japan’s Sumitomo Corp. and Electric Power Development Co.
The ceremonial turnover was led by President Ferdinand R. Marcos, Jr., together with PSALM, and was witnessed by Japanese Ambassador to the Philippines Endo Kazuya, Philippine government officials, and representatives from the consortium partners.
“Today’s turnover of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant marks a deliberate step toward an energy system that is steadier in operations, smarter in design, and ready for the future that we are building,” Mr. Marcos said in his speech.
Aboitiz Equity Ventures President and Chief Executive Officer and AboitizPower Chairman Sabin M. Aboitiz said the consortium is ready to operate the facility and support the country’s energy needs.
“[The facility] provides flexibility, stability, and resilience in a rapidly changing energy system. It allows us to manage peaks in demand, support reserves, and integrate more renewable energy into the grid without compromising reliability,” he said.
Mr. Aboitiz added that the CBK would become “even more critical” as the country integrates more solar and wind capacities into the grid.
The CBK HEPP utilizes three hydropower technologies: pumped-storage hydropower, impoundment, and run-of-river systems — contributing to energy security through various functions. The asset provides dispatchable renewable energy and functions as a large-scale energy storage system.
The turnover of the CBK hydro asset is part of the government’s power sector privatization program, generating additional fiscal resources.
Aboitiz Renewables expects the acquisition of CBK to significantly expand its hydropower portfolio and add a massive pumped-storage asset to its renewable energy mix.
AboitizPower is the holding company of the Aboitiz Group’s investments in the country’s power sector. It is the leading power producer, with a market share of 23.86% in the national grid as of July 2025, according to the Energy Regulatory Commission. — Sheldeen Joy Talavera