Winning financial bid awaited to privatize CBK

Aboitiz Power Corp.’s (Aboitiz-Power) renewable energy (RE) arm and Lopez-led First Gen Corp. (FGen) are bidding for the Caliraya-Botocan-Kalayaan Hydroelectric Power Plants (CBK HEPP), according to the state-run Power Sector Assets and Liabilities Management Corp. (PSALM).

- By Gabriell Christel Galang

PSALM’s privatization bids and awards committee (PBAC), through its technical working group (TWG), has revealed that the two leading energy players have submitted their bids for the privatization of CBK, through their respective consortia, during the June 30 deadline.

PSALM said the two qualified bidders are FWKG consortium, which is composed of FGen and K-Water Resources Corp.; and Thunder Consortium of Aboitiz Renewables Inc. (ARI), J-Power, and Sumitomo Corp.

This was determined after PSALM’s PBAC completed the evaluation of the technical bids contained in the first envelope of the two-envelope bidding process.