The Power Sector Assets and Liabilities Management (PSALM) Corporation has officially set the minimum bid price (MBP) for the sale of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plants. This marks another step in the government’s ongoing power sector privatization efforts.

The MBP was determined by PSALM’s Privatization Bids and Awards Committee (PBAC) following a thorough financial evaluation and consultations with relevant government agencies. According to the agency, this ensures the bid terms are consistent with prevailing market conditions while safeguarding asset value for the state.

Located in the municipalities of Lumban, Majayjay, and Kalayaan in Laguna, the CBK complex will be sold on an “as is, where is” basis. The hydroelectric facility is among the critical assets in PSALM’s portfolio, with its privatization aligned with national policy to encourage private sector participation and improve operational efficiency across the power sector.

Interested parties are invited to participate in the public bidding scheduled for June 30, 2025. Bidders must first complete the submission of required participation documents by 5:00 p.m. on June 16, 2025, and also pay a non-refundable participation fee of PHP800,000.

The required submissions include: a Letter of Interest (using the prescribed form), a duly executed Confidentiality Agreement with Undertaking and Waiver, and proof of payment. Upon successful submission, qualified participants will receive access to the project’s Virtual Data Room (VDR), which contains key documents for due diligence.

PSALM reiterated that the privatization of the CBK Hydroelectric Power Plants forms part of its wider mandate to manage and liquidate government power-related assets. The agency continues to implement asset sales in accordance with the Electric Power Industry Reform Act (EPIRA), which encourages competitive bidding and private investment in the country’s power infrastructure.

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