AboitizPower announced that the Philippine Competition Commission (PCC) has approved the acquisition of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant (CBK HEPP) Complex by the Thunder Consortium. The approval allows the consortium to proceed with the transfer of the asset following the bidding conducted by the Power Sector Assets and Liabilities Management Corporation (PSALM).

The Thunder Consortium is composed of Aboitiz Renewables, Inc. (ARI), Sumitomo Corporation, and Electric Power Development Co., Ltd. or J-POWER. ARI, a wholly owned subsidiary of AboitizPower, manages the company’s investments in geothermal, large hydro, run-of-river hydro, wind, battery energy storage, and solar technologies.

In a disclosure filed on November 28, AboitizPower said the acquisition covers CBK HEPP assets offered by PSALM through its Privatization Bids and Awards Committee. 

As privatization of government-owned power assets continues, what impact do you think the CBK HEPP acquisition will have on the country’s renewable energy landscape?

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