PSALM holds pre-proposal conference for CBK hydropower complex sale, attracting nine bidders

State-run Power Sector Assets and Liabilities Management Corp. (PSALM) held a pre-proposal conference for the sale of the Caliraya-Botocan-Kalayaan (CBK) hydropower complex, attracting nine companies including San Miguel Global Power Holdings Corp., Prime Infrastructure Capital Inc., and Hexa Philippines Holdings Inc.

Other interested bidders include Ayala-led Giga Ace 11 Inc., Lopez Group's First Gen Prime Energy Corp., Ramon Ang's San Miguel Global Power, Consunji-led Semirara Mining and Power Corp., Enrique Razon Jr.'s Prime Infrastructure Capital Inc., and foreign companies like Marubeni Corp. from Japan, Korea Water Resources Corp., and Aboitiz Renewables Inc.

The bid proposal submission date is set for June 16, with PSALM aiming to inform companies about documentary requirements and address any lingering issues related to the bidding process.

PSALM announced the reopening of the bidding after a previous attempt failed last year, and the sale will be conducted on an 'as is, where is' basis, meaning buyers must accept the property in its current condition and location.

The 796.64-megawatt (MW) hydroelectric power plant complex, which includes the Caliraya HEPP, Botocan HEPP, and Kalayaan I and II pump storage power plants, is currently under a 25-year build-rehabilitate-operate-transfer agreement that will expire in 2026.