Aboitiz Group is doubling down on energy privatization, arguing that private capital and operational expertise are essential to securing the Philippines’ power future. The position comes as a consortium led by Aboitiz formally took over the Caliraya–Botocan–Kalayaan (CBK) hydroelectric power plant, one of the country’s most strategic energy assets.
Speaking at the turnover ceremony in Laguna, Aboitiz Group president and CEO Sabin Aboitiz described CBK as far more than a routine acquisition. With nearly 1,000 megawatts of hydropower capacity already under AboitizPower’s portfolio prior to CBK, the group views the 796.56-megawatt complex as central to maintaining grid reliability as the energy mix rapidly evolves.
As solar and wind capacity continues to expand, Aboitiz stressed that the importance of flexible, dispatchable assets like hydropower increases.
CBK’s ability to manage peak demand, provide reserves, and address renewable intermittency positions it as a stabilizing force in an increasingly complex power system. In effect, the transition to cleaner energy heightens the need for dependable hydro assets that can respond in real time.
Beyond technical benefits, Aboitiz highlighted the economic case for privatization. The CBK transaction, he said, demonstrates how clear government policy combined with private-sector capital, technology, and operational discipline can deliver infrastructure that is both reliable and sustainable.
At the local level, the facility supports jobs, skills development, and economic activity. At the national level, it strengthens energy security—still a persistent challenge for the Philippines.
Aboitiz voiced support for further privatization, citing large hydro assets such as Agus and Pulangi as potential platforms for long-term development. Reliable power, he emphasized, is inseparable from economic growth, and delays in private participation could slow both.
The Thunder Consortium—composed of Aboitiz Renewables Inc., Japan’s Sumitomo Corp., and Electric Power Development Co. Ltd.—won the CBK complex with a P36.27-billion bid, signaling continued private interest in strategic energy assets.
