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PSALM holds Pre-Documentary Deliverables Conference for CBK hydro power plants

The Power Sector Assets and Liabilities Management Corporation (PSALM) held the Pre-Documentary Deliverables Conference for the selection and appointment of the independent power producer administrator for the administration of the contracted capacity and privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plants at the headquarters of the Asian Development Bank, Mandaluyong City on 15 January 2024. PSALM’s Technical Working Group for the privatization of the CBK presented valuable information pertaining to the refinement of the privatization process for these renewable generation assets.


“CBK is PSALM’s major privatization project for 2024. This conference aims to keep interested parties well-informed of the updated process and requirements and clarify any ambiguous provisions in the asset’s privatization. PSALM will commit all its efforts to ensure that this will be a win-win privatization project for both the government and the winning private company, yielding optimal returns while serving the government’s interest,” PSALM President and CEO Dennis Edward A. Dela Serna said at the opening of the conference.


The plants comprising the CBK Hydroelectric Power Plant Complex are in Lumban, Majayjay, and Kalayaan, Province of Laguna. CBK has an overall contracted capacity of 796.64 MW.


The conference was attended online and onsite by around 16 private companies and representatives from government agencies such as NPC, DOE, DOF, DTI and NEDA.


The CBK plant complex is currently under a Build-Rehabilitate-Operate-Transfer (BROT) and Power Purchase Agreement (PPA) between the CBK Power Company Limited and the National Power Corporation for 25 years from its effectivity on 07 February 2001 or until February 2026.