MANILA – President Ferdinand R. Marcos Jr. on Monday stressed the importance of clear rules and shared responsibility between the government and the private sector as he led the turnover of the Caliraya–Botocan–Kalayaan (CBK) Hydroelectric Power Plants to a private consortium.
Marcos said partnerships between the public and private sectors help ensure that essential services like electricity remain reliable, affordable, and responsive to public needs.
“Building on the strength of both the public and private sectors, we encourage collaborations that safeguard the public interest while promoting transparency and accountability,” Marcos said in his speech.
The CBK complex is one of the largest hydropower facilities in Luzon, producing a combined 797 megawatts of electricity.
It is made up of three plants, each with a specific role: Caliraya stores water, Botocan uses flowing river water to generate power, and Kalayaan helps balance electricity supply and demand, especially during peak hours.
Marcos said the system plays an important role in keeping the Luzon power grid stable, particularly as the country increases its use of renewable energy.
“Together, they form a system designed not just to generate power, but to balance the supply and demand across the entire power system,” he said.
The President said the government was able to raise over PHP 36.27 billion from the privatization of the CBK facilities, funds that can now be used for basic public needs.
“The government is able to unlock significant resources while ensuring the continued operation of a strategically important energy asset,” Marcos said, adding that the money could be used for classrooms, roads, and hospitals.
The new operator, the Thunder Consortium, is composed of Aboitiz Renewables Inc., Sumitomo Corporation, and Electric Power Development Co., Ltd. (J-POWER), companies with experience operating power facilities in the Philippines and abroad.
Marcos said the turnover shows investor confidence in the country’s energy policies and the government’s approach to public-private partnerships.
“Strategic public-private collaboration transforms investment in essential infrastructure into reliable everyday services that people can trust,” he said. (PNA)