Benise Balaoing

President Ferdinand Marcos Jr. led the turnover ceremony of Caliraya-Botocan-Kalayaan Hydroelectric Power Plant in Laguna to an Aboitiz-led consortium.  The government says the privatization of energy infrastructure can improve power supply & lower power rates. Jekki Pascual, ABS-CBN News

Article (news)

797-MW hydro plant turned over to Aboitiz-led group

Jekki Pascual

ABS-CBN News

<div class="twitter-tweet twitter-tweet-rendered" style="display:flex;max-width:560px;width:100%;margin-top:10px;margin-bottom:10px"><iframe id="twitter-widget-0" scrolling="no" frameBorder="0" allowtransparency="true" allowfullscreen="" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=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%3D%3D&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=2020780872056930802&amp;lang=en&amp;maxWidth=560px&amp;origin=https%3A%2F%2Fod2-workbench-web.abs-cbn.com%2F%23%2Fworkspace%2Fmonitoring%3Fitem%3Durn%3Anewsml%3Aod2-workbench-api.abs-cbn.com%3A2026-02-09T08%3A32%3A08.050147%3A4afb953d-1b9c-46bc-b758-7d30e45e9315%26action%3Dedit&amp;sessionId=b3a0fcf02673e95897ef915e690742c8ee3a313b&amp;theme=light&amp;widgetsVersion=2615f7e52b7e0%3A1702314776716&amp;width=550px" style="position:static;visibility:visible;width:560px;height:316px;display:block;flex-grow:1" data-tweet-id="2020780872056930802"></iframe></div><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8"></script><p>MANILA — The Philippine government has turned over the 797-megawatt Caliraya-Botocan-Kalayaan Hydroelectric Power Plant complex to the Aboitiz-led Thunder Consortium.</p><p>President Ferdinand Marcos Jr. himself led the ceremony on Monday at the facility in Kalayaan town in Laguna province. He said it is important to turn over the complex to the private sector, which can improve the facilities and also ease government spending.</p><p>Turning over the project, Marcos noted, will allow the government to spend more on social services.</p><p>“With this privatization completed through the successful bid of over P36.27 billion, the government is able to unlock significant resources while ensuring the continued operation of a strategically important energy asset. In doing so, the government can invest where it matters most- in our people,” Marcos said.</p><p>Thunder Consortium, composed of Aboitiz Renewables and Japanese firms Sumitomo Corporation and Electric Power Development Co. Ltd, won the bidding process conducted by the Power Sector Assets and Liabilities Management Corporation (PSALM).</p><p>“We promise not only to take care of it, but invest to improve and maximize its operations and squeeze every megawatt, so to speak,” said Aboitiz Equity Ventures President and CEO Sabin Aboitiz.</p><p>The CBK is a 797-megawatt complex composed of three facilities- the 39.30 MW Caliraya Hydroelectric Power Plant, commissioned in 1942; the 22.96 MW Botocan Hydroelectric Power Plant, built in 1930; and the 734.36 MW Kalayaan Pumped Storage Power Plant, commissioned in 1984.</p><p>Energy Secretary Sharon Garin said that, because of the complex&#x27;s huge power capacity — which has been operating for decades — it’s time to improve the facilities. This can help stabilize the power supply for the Luzon grid and, eventually, lead to lower rates.</p><p>“Pag stable ang supply mo, bababa rin ang presyo mo. Makikita niyo ngayon yan sa merchant market namin bumababa presyo ng renewable,” Garin said.</p><p>She also highlighted that the Kalayaan plant is the first and only pumped storage facility in the country, which works like a battery if other renewable energy plants are not performing at their peak. Garin adds that CBK has the potential to add about 400 MW more, but that needs to be studied carefully first.</p><p>She added, “Marami tayo pumped storage na papasok sa 2030 at 2032- mga 6,000 megawatts yan. Pero kung meron pa additional, kailangan lang namin icalculate, baka kasi sumikip, sumobra. Di kasi pwede yan na sobrang dami ang supply mo ng electricity, kasi babagsak ang presyo baka affected ang investors natin.”</p><p>PSALM President Dennis Dela Serna, meanwhile, said up next for possible bidding for asset rehabilitation is the 1000 MW Agus-Pulangi Hydropower Complex in Mindanao. He said major local players have expressed interest.</p><p>“We’re still going through the evaluation process so that’s why I’m saying baka next year pa because there’s a period for evaluation, there’s a period for negotiation,” Dela Serna said.</p>

<p>The Philippine government has turned over the 797-megawatt Caliraya-Botocan-Kalayaan Hydroelectric Power Plant complex to the Aboitiz-led Thunder Consortium.</p>

The Philippine government has turned over the 797-megawatt Caliraya-Botocan-Kalayaan Hydroelectric Power Plant complex to the Aboitiz-led Thunder Consortium.

Gov't turns over 797-megawatt hydropower plant to Aboitiz-led group

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Gov't turns over 797-megawatt hydropower plant to Aboitiz-led group

Jekki Pascual,

ABS-CBN News

Published February 09, 2026 05:30 PM PHT

Read More:

power plant

Caliraya-Botocan-Kalayaan Hydroelectric Power Plant

Aboitiz

Sumitomo

Caliraya lake

Laguna

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