^{In photo: THE KALAYAAN PUMP STORAGE POWER PLANT (KPSPP) /CBKPower.com}

Aboitiz Power Corp. has disclosed today that the Thunder Consortium—led by its renewable energy arm—has secured up to PHP 70 billion in bridge loan facilities to partly fund its acquisition of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant (CBK HEPP) Complex, a major asset in the country’s power generation mix. 

In a filing to the Philippine Stock Exchange on December 18, AboitizPower said it was informed by wholly owned subsidiary Aboitiz Renewables, Inc. (ARI) that the consortium can draw up to PHP 35 billion each from BDO Unibank Inc. and Metropolitan Bank & Trust Co. The financing will be used to partially finance the purchase of the CBK HEPP Complex, a multi-facility hydro system critical to grid stability and peak power support. 

The Thunder Consortium is composed of ARI, Japan’s Sumitomo Corp., and Electric Power Development Co. Ltd. (J-POWER). The bridge loans provide near-term funding flexibility as the group advances the transaction, signaling lender confidence in large-scale renewable assets amid the Philippines’ push to expand clean and reliable energy capacity. 

In July 2025, the Power Sector Assets and Liabilities Management (PSALM) Corp. awarded the sale of the CBKK HEPP to the Thunder Consortium after the group submitted the highest bid of PHP 36.266 billion and completed post-qualification and board approval.

ARI serves as AboitizPower’s platform for renewable investments, with a portfolio spanning geothermal, large hydro, run-of-river hydro, wind, solar, and battery energy storage systems. The CBK acquisition aligns with AboitizPower’s strategy to deepen its presence in renewables while supporting energy security through dispatchable hydro resources. 

What do you think this financing move signals for future large-scale renewable acquisitions and bank appetite for power sector deals in the Philippines? Join the discussion.

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