19 Jul 2024
The Power Sector Assets and Liabilities Management (PSALM) Corporation conducted a successful pre-proposal conference on 12 July 2024 for the privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex in Lumban, Majayjay, and Kalayaan Laguna, attracting significant interest from five (5) key industry players. The conference served as a pivotal event in the pre-bidding process, providing detailed insights into the CBK Plant Complex’s assets and inviting robust participation from potential bidders.
In his statement, PSALM President and CEO, Mr. Dennis Edward A. Dela Serna, emphasized PSALM’s commitment to optimizing asset management strategies and fostering competition in the energy sector. “We are pleased with the turnout and the level of interest shown by industry leaders in the CBK Plant Complex privatization. Rest assured that we remain steadfast in our commitment to ensuring a fair and transparent bidding process that aligns with our mandate and at the same time give maximum value to our stakeholders,” said Mr. Dela Serna.
Representatives from five (5) reputable companies in the energy sector, namely Marubeni Corporation, Semirara Mining and Power Corporation, Thunder Consortium (a consortium of Aboitiz Renewables, Inc., Electric Power Development Co., and Sumitomo Corporation), First Gen Prime Energy Corporation, and Giga Ace 11, Inc., participated in the conference, underscoring the competitive nature of the CBK Plant Complex privatization initiative.
The pre-proposal conference provided participants with comprehensive information on the CBK Plant Complex, including its technical specifications, operational details, and regulatory framework. Attendees engaged in informative discussions aimed at clarifying project details, understanding bidding requirements, and determining evaluation criteria.
PSALM has set the timeline for the bidding and subsequent awarding of the CBK Plant Complex privatization, with the bidding process to commence within this year and awarding targeted for next year. It continues to uphold transparency and integrity in its privatization efforts, seeking to partner with a qualified entity capable of leveraging the CBK Plant Complex’s potential to benefit consumers and advance the country’s energy goals.
For more information on the CBK Plant Complex privatization, please visit PSALM Corporation’s official website at www.psalm.gov.ph.
Strategic Communications and Partnership Division |