Industry players Semirara Mining and Power Corporation, Marubeni Corporation, Aboitiz Group, First Gen Corporation, and ACEN Corporation expressed intent for the privatization of the Caliraya-Botocan-Kalayaan (CBK) hydropower plants.
In a report by Manila Standard, PSALM president Dennis Dela Serna said that last Friday, they convened the CBK pre-proposal conference with eligible bidders.
CBK Hydroelectric Power Plant Complex, which is situated in Lumban, Majayjay, and Kalayaan, Laguna has an overall contracted capacity of 796.64 megawatts (MW)
Dela Serna added that for the CBK privatization, set to take place this year, the bidding process will be divided into two stages: qualifying and proposal, and the pre-proposal conference is done to address queries from eligible bidders on the Request For Proposal documents.
Originally, PSALM attracted interest from 28 companies for the CBK privatization by the February 1, 2024 deadline, with one company subsequently opting to withdraw from the process.
The CBK plant complex, governed by a build-rehabilitate-operate-transfer (BROT) agreement and a power purchase agreement (PPA) between CBK Power Company Limited and the National Power Corporation, has been operational since February 7, 2001, and is slated to continue until February 2026.
PSALM has enlisted the Asian Development Bank as its transaction advisor for monetizing the CBK hydropower plants, with the Department of Finance (DOF) eyeing a revenue target of Php 50 billion to Php 100 billion from the CBK privatization.
