PSALM sets CBK hydro privatization next year

By Alena Mae S. Flores – June 28, 2023, 6:55 pm
from manilastandard.net

State-run Power Sector Assets and Liabilities Management Corp. has moved the planned privatization of the  797.92 megawatts Caliraya-Botocan-Kalayaan hydropower plants to 2024.

“PSALM finalizing our plans for CBK in coordination with our consultant ADB. Various challenges on security asset, long term viable ASPA (asset sale and purchase agreement0, transmission and power charges,” PSALM president Dennis de la Serna said.

“It’s going to be hard. We are hopeful for 2024,” he said.

PSALM initially set the CBK HEPP’s privatization this year after the successful sale of the 165-megawatt Casecnan hydroelectric power plant in Pantabangan, Nueva Ecija to Fresh River Lakes Corp., a subsidiary of the Lopez Group’s First Gen Corp. last month.

The CBK hydro facility consists of 22.6-megawatt Caliraya in Lumban, 20.8-MW Botocan in Majayjay, and 684.6-MW Kalayaan I and II in Kalayaan, Laguna.  J-Power and Sumitomo Corp. of Japan operate the CBK power plants.

PSALM is the agency tasked under the Electric Power Industry Reform Act of 2001 to manage the assets and liabilities of National Power Corp.