(UPDATE) PRESIDENT Ferdinand Marcos Jr. on Monday witnessed the privatization of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plants, an initiative aimed to push the country’s use of renewable energy.
In his speech, Marcos said that the plants not only help narrow the power gap but also reflects robust investor confidence in the energy sector.
“It also demonstrates once again how strategic public-private collaboration transforms investment in essential infrastructure into reliable, everyday services that people can trust,” he said.
Management of the facilities now falls under Thunder Consortium composed of Aboitiz Renewables Inc., Sumitomo Corp., and Electric Power Development Co., Ltd.
The consortium made the winning bid of over P36.27 billion for the project last year, which is made up of the Caliraya hydro plant in Lumban, the 22.91-megawatt (MW) Botocan hydro plant in Majayjay, and the 366 MW Kalayaan I and 368.36 MW Kalayaan II pumped storage plants.
The president said he is confident that both the power complex and the public-private partnership will help ensure a more secure, stable, and forward-looking future for the Filipino people.
Marcos said the plants pump water to an upper reservoir using excess power during off-peak hours, and release water to generate electricity when the demand is high, allowing cleaner energy to work reliably at scale.
These form a system designed not just to generate power, but to balance the supply and demand across the power networks “We, in government, continue to strengthen the systems in our energy sector — by improving policies, processes, and partnerships to ensure that energy reliability and affordability are sustained in the long-term,” he said.
Collaborations between the public and private sectors safeguard the public interest while promoting transparency and accountability, he said.
