MANILA, Philippines — An Aboitiz-led consortium is one step nearer to securing the important energy asset Caliraya-Botocan-Kalayaan (CBK) hydroelectric facility, after the federal government formally handed over the discover of award for its successful P36.266-billion bid.
Energy Sector Property and Liabilities Administration (Psalm) Corp. stated on Friday it had issued the discover of award to Thunder Consortium, composed of Aboitiz Renewables, Inc., Sumitomo Corp. and Electrical Energy Improvement Co.
This developed simply two weeks after the Thunder Consortium emerged because the successful bidder for the 796.64-megawatt advanced, beating the FWKG Consortium backed by Lopez-led First Gen Corp.
READ: Aboitiz beats First Gen in CBK hydro plant privatization
The discover of award got here after Psalm carried out a post-qualification analysis exercise, whereby it confirmed the accuracy, authenticity and completeness of the qualification paperwork.
The Aboitiz-led group has seven days to simply accept the discover of award, it added in an announcement.
Psalm stated the sale of the asset would enhance “operational effectivity and assist the nation’s renewable vitality objectives.”
Psalm eyes turnover in February 2026
In a message to the Inquirer, Dennis Edward Dela Serna, Psalm president and chief government officer, stated their goal was to show over the ability by February 2026.
Peter Garnace, fairness analysis analyst at Unicapital Securities Inc., stated Aboitiz Energy (AP) ought to look into equipping the advanced with a battery vitality storage system to maximise the output of the 42-year-old facility.
“Other than refurbishing to modernize and prolong plants, AP must also contemplate hybridizing the CBK hydropower advanced by colocating battery vitality storage system (BESS) to reinforce its capability and suppleness to deploy electrons to the grid,” Garnace instructed the Inquirer.
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The analyst cited Aboitiz Energy’s hydro-plus-battery hybrid facility in Isabela.
“Thunder Consortium can leverage AP’s operational expertise and apply this confirmed mannequin to unlock the total potential of the CBK Hydropower Advanced,” he added.
Michael Ricafort, chief economist at Rizal Industrial Banking Corp., in the meantime, stated this was “a fantastic alternative,” particularly as authorities insurance policies and companies are below strain amid environmental and social accountability objectives.
“It is a comparatively giant hydropower facility that’s uncommon in availability and provide, being a renewable vitality supply at that. Additionally it is tough and would require a few years to construct a comparatively giant hydro energy facility from scratch,” he stated.
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Garnace additionally stated that since CBK hydropower advanced is the largest government-owned hydropower plant—offering greater than 4 p.c of vitality to the Luzon grid—Aboitiz would change into the “largest hydropower operator within the Philippines.”
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