Wedoany.com Report-Aug. 19, Aboitiz Power Corporation has announced that its wholly-owned subsidiary, Aboitiz Renewables, Inc. (ARI), through the Thunder Consortium, has signed project agreements with the Power Sector Assets and Liabilities Management Corporation (PSALM) and the National Power Corporation. The Thunder Consortium, comprising ARI, Sumitomo Corporation, and Electric Power Development Co., Ltd., operates through its project company, Cleanergy 9 Power Inc.

On July 18, PSALM issued a notice of award to the Thunder Consortium for the sale and privatization of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant Complex. This milestone advances the consortium’s efforts to expand renewable energy infrastructure in the Philippines. The transaction’s completion depends on meeting standard closing conditions, including obtaining regulatory approvals from bodies such as the Philippine Competition Commission.

ARI manages Aboitiz Power’s investments in diverse renewable energy initiatives, encompassing geothermal, large hydroelectric, run-of-river hydroelectric, wind, battery energy storage systems, and solar projects. The acquisition of the Caliraya-Botocan-Kalayaan complex aligns with ARI’s focus on sustainable energy development, strengthening its portfolio in the renewable energy sector.

The agreements mark a significant step in enhancing the Philippines’ renewable energy capacity, supporting the country’s goals for sustainable power generation. The Caliraya-Botocan-Kalayaan Hydroelectric Power Plant Complex is expected to contribute to reliable and clean energy supply, benefiting local communities and industries. This collaboration between Aboitiz Power, Sumitomo Corporation, and Electric Power Development Co., Ltd. demonstrates a commitment to advancing renewable energy infrastructure while fostering economic growth in the region.