Caliraya Hydroelectric Power Plant. | PHOTO: cbkpower.com
MANILA, Philippines – The consortium led by Aboitiz Power Corp. has emerged as the winning bidder for the privatization of the massive hydroelectric power plant complex in Laguna province.
Dennis Edward Dela Serna, president and CEO of the Power Sector Assets and Liabilities Management (PSALM) Corp., confirmed that the Thunder Consortium, composed of Aboitiz Renewables, Inc., Sumitomo Corp., and Electric Power Development Co. came out on top of the bidding for the 796.64-megawatt Caliraya-Botocan-Kalayaan (CBK) hydroelectric facility.
READ: BIZ BUZZ: Aboitiz-led Thunder Consortium poised to bag CBK
Its sole competitor was FWKG Consortium, composed of First Gen Prime Energy Corp. and Korea Water Resources.
“The winning bid is P36.266 billion by the Aboitiz Consortium,” Dela Serna said in a message.
The figure was way higher than First Gen-led group’s P19.616 billion./tad