Aboitiz Power consortium wins gov't nod for Caliraya-Botocan-Kalayaan plant takeover

The takeover involves the acquisition of the plant’s assets.

A consortium led by Aboitiz Power Corporation has secured the authorities’ approval for the acquisition of the 797 megawatt Caliraya-Botocan-Kalayaan Hydroelectric Power Plant Complex (CBK HEPP).

In a bourse filing, Aboitiz Power said it was informed by its wholly-owned subsidiary Aboitiz Renewables, Inc. (ARI) that the Philippine Competition Commission has approved the acquisition by the Thunder Consortium, composed of ARI, Sumitomo Corporation, and Electric Power Development Co., Ltd.

“The transaction involves the acquisition of the CBK HEPP assets from the Power Sector Assets and Liabilities Management Corporation pursuant to the bidding process conducted by the Privatization Bids and Awards Committee of PSALM,” Aboitiz Power said.

Aboitiz Power aims to reach financial close by the end of this month or early December. Turnover is set by late February 2026.