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AboitizPower targets year-end financial close for P36-B CBK deal
Aboitiz Power Corporation anticipates immediate financial benefits following its acquisition of the 797-megawatt Caliraya-Botocan-Kalayaan (CBK) hydroelectric complex in Laguna.
The company's chief financial officer, Sandro Aboitiz, stated that the acquisition is currently under review by the Philippine Competition Commission, with financial closure expected by late November or early December.
The turnover of the CBK complex, comprising hydroelectric plants in Lumban, Majayjay, and Kalayaan, is scheduled for late February 2026.
AboitizPower, through the Thunder Consortium, won the bid for the CBK complex with an offer of P36.3 billion, surpassing the P19.62 billion bid from rival FGKW Consortium.
AboitizPower holds a significant 64 percent stake in the Thunder Consortium, which also includes Japanese firms Sumitomo Corporation and Electric Power Development Co.
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