Aboitiz-led Thunder gets ‘notice of award’ for CBK win

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Aboitiz-led Thunder gets ‘notice of award’ for CBK win

By: Lisbet K. Esmael - Reporter / @lisbetesmael

The Philippine Daily Inquirer / 04:39 PM July 18, 2025

A large pipe at the Caliraya Hydroelectric Power Plant

Caliraya Hydroelectric Power Plant. | PHOTO: cbkpower.com

MANILA, Philippines — Aboitiz-led Thunder Consortium has secured the notice of award from the government after emerging as the winning bidder for the 796.64-megawatt Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex in Laguna.

READ: BIZ BUZZ: Thunder for the CBK win

Article continues after this advertisement

In a statement on Friday, the Power Sector Assets and Liabilities Management (Psalm) Corp. said it has issued the notice of award to Thunder.

The consortium comprises Aboitiz Renewables, Inc., Sumitomo Corp. and Electric Power Development Co.

READ: Edsa busway privatization set in 2025 – DoTR

The group bested rival Lopez-led First Gen Corp., as it came out on top of the bidding for the privatization of the CBK hydroelectric facility with its offer at P36.266 billion.

Psalm said the sale of the asset would boost “operational efficiency and support the country’s renewable energy goals.”

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TAGS: Aboitiz group, hydroelectric power, Privatization

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