Aboitiz unit and partners bag Laguna power plant privatization

Manila, Philippines – An Aboitiz Power Corporation subsidiary and its partners have bagged a contract that transfers the ownership and operations of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant complex in private hands.

The Power Sector Assets and Liabilities Management Corp. (PSALM) issued a notice of award on July 18 to the Thunder Consortium as the winning bidder for the sale and privatization of the power plant, Aboitiz Power said in a regulatory filing on Monday.

The consortium groups Aboitiz wholly-owned subsidiary Aboitiz Renewables, Inc. (ARI), Sumitomo Corporation, and Electric Power Development Co., Ltd. (J-Power).

“The Thunder Consortium will undergo the post-award processes required by PSALM,” the disclosure read.

ARI represents Aboitiz Power’s investments and interests in various renewable energy projects, including geothermal, large hydro, run-of-river hydro, wind, battery energy storage systems, and solar projects.