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Saturday, May 25, 2024

PSALM plans to launch privatization of Caliraya hydropower plants in 2023

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State-run Power Sector Assets and Liabilities Management Corp. plans to to kick off the privatization of the 797.92-megawatt Caliraya-Botocan-Kalayaan hydropower plants this year.

PSALM president Dennis de la Serna said the agency already conducted an investor forum for the CBK HEPPs privatization and was in the process of engaging a transaction advisor.

“We’re hoping we can get ADB [Asian Development Bank] as the CBK transaction advisor,” de la Serna said.

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 operates the CBK power plants.

The PSALM executive also expressed hope that the privatization process for its Diliman and Bagac properties would start this year.

The 5.1-hectare Diliman property is located in a long stretch of commercial establishments adjacent to Centris Walk and Vertis North in Quezon City.

The 44-hectare Bagac property in Bataan is located right beside Las Cazas Filipinas de Acuzar resort and includes existing recreation facilities that could be further developed.

“We’re hoping to start the process this year and maybe a bid date in 2024,” De la Serna said.

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

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