President Ferdinand Marcos Jr. witnessed the privatization of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plants, a move aimed at boosting the country’s renewable energy capacity.
The plants, now managed by the Thunder Consortium—composed of Aboitiz Renewables, Sumitomo Corp., and Electric Power Development Co.—were acquired for over P36.27 billion.
Marcos said the initiative not only narrows the power gap but also reflects strong investor confidence and the benefits of public-private partnerships.
The hydro plants use pumped storage to generate electricity during peak demand, balancing supply and demand while providing cleaner, reliable energy.
He added that continued collaborations and policy improvements in the energy sector will ensure long-term reliability, affordability, and transparency for Filipino consumers.
Source: PhilNews24 | February 10, 2026
