Aboitiz Power unit and partners bag privatisation project of hydroelectric project

The company has partnered with two Japanese companies.

Aboitiz Power Corporation has announced that a consortium, which includes its wholly-owned subsidiary Aboitiz Renewables, Inc. (ARI), has received the notice of award for the privatisation of a hydroelectric power plant.

In a bourse filing, Aboitiz Power said the project was awarded by Power Sector Assets and Liabilities Management Corporation (PSALM) to the Thunder Consortium, composed of ARI, Sumitomo Corporation, and Electric Power Development Co., Ltd.

The consortium was named the winning bidder for the sale and privatisation of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant Complex. The companies will undergo the post-award processes required by PSALM.

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.